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61sT Congress, ) HOUSE OF REPRESENTATIVES. J Document 

3d Session. \ \ No. 1060. 



FINANCIAL CONDITION OF THE GEORGE WASHINGTON 

UNIVERSITY. 



LETTEE /S^^ 

FROM 

THE ATTORNEY-GENERAL, 

TRANSMITTING 

THE FINAL REPORTS ON THE FINANCIAL CONDITION OF THE 
GEORGE WASHINGTON UNIVERSITY. 



December 7, 1910. — Referred to the Committee on the District of Columbia and 

ordered to be printed. 



REPORT OF THE FINANCIAL CONDITION OF THE GEORGE 
WASHINGTON UNIVERSITY. 



Department of Justice, 
Office of the Attorney General, 

WasTiington, D. C, December 6, 1910, 
Sir: On June 2, 1910, I had the honor of transmitting to you the 
prehminaiy report of the financial condition of the George Washing- 
ton University, prepared pursuant to a resolution adopted by the 
House of Representatives on April 25, 1910. In that connection I 
advised you that I would supplement the preliminary report trans- 
mitted by a more thorough and detailed report into the financial 
matters of the university, when the same should be completed. I 
now have the honor to transmit two further reports which have 
been prepared under my direction, viz: 

(1) A report dated August 20, 1910, showing the history and 
financial condition of the various endowment, scholarship, prize, and 
other trust funds of the George Washington University prepared by 



2 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 



\>\\^ ^nO 



Messrs. Nelson B. Keyser and Walter Lewis, special bank account- 
ants employed in this department ; and 

(2) Final report dated November 15, 1910, of the investigation of 
the financial affairs of the George Washington University made by 
Nelson B. Keyser, special bank accountant, in which is contained: 

(a) Statement of the assets and liabilities of the university as of 
August 31, 1910, exclusive of endowment and other trust funds; 

(h) Statement of the assets and liabilities of the endowment and 
other trust funds and the liabilities of the general fund to the endow- 
ment and other trust funds; and 

(c) A statement of the facts concerning the status of the medical 
school property in relation to the endowment or trust funds, and other 
statements concerning the receipts, expenditures, and assets of the 
university, and the recent acts of the board of trustees in disen- 
tangling its affairs. 

I also transmit a communication received by me from the presi- 
dent of the university transmitting a copy of a deed of trust upon 
the property of the university on H Street, between Thirteenth and 
Fourteenth Streets, Washington, which he advises me has been 
executed and recorded. I have the honor to be. 
Yours, respectfully, 

Geo. W. Wickersham, 

Attorney General. 

'The Speaker of the House of Representatives. 



Washington, D. C, August 20, 1910. 

Sir: Pursuant to your instructions, communicated through the 
Chief of the Bureau of Investigation, under date of July 19, 1910, 
we have the honor to submit herewith a report showing the history 
and financial condition of the various endowment, scholarsliip, 
prize, and other trust funds of the George Washington University. 

In tliis report we have treated each fund under a separate heading. 
From these it will appear that there is due from the general fund 
of the university to the various trust funds the following amounts: 

Congressional professorship fund $63, 872. 93 

Poindexter endowment fund 12, 525. 56 

$40,000 endowment fund 26, 891. 46 

Elton professorship fund '. 9, 815. 25 

Syms legacy 1,500.00 

Withington scholarship fund 1, 573. 20 

Walker scholarship fund 2, 500. 00 

Morehoiise scholarship fund 1, 500. 00 

Kendall scholarship fund 1, 150. 00 

Davis scholarship fund 1, 000. 00 

Farnham scholarship fund 1, 000. 00 

M. M. Carter scholarship fund 1, 000. 00 

Powell scholarship fund ' 22, 272. 00 

Mary Lowell Stone scholarship fund 2, 775. 38 

Staughton and Elton prize fund 500. 00 

Ruggles ])rize fund 500. 00 

Fitch prize fund 1, 678. 83 

Cutter prize fund 75. 14 

Walsh prize fund 126.58 

Ordronaux prize fund 932. 00 

Alumni hall fund 4, 366. 50 



'XI I9I1 



r^ FINANCIAL CONDITION OP GEORGE WASHINGTON UNIVERSITY. 3 

*~- €orcoran endowment fund, and building, site, and enlargement fund 1195, 796. 57 

Amount paid for expenses out of building, site, and enlargement fund. . . 16, 042. 08 

S Total amount due from the general fund to the various trust funds 

-^-_^ (exclusive of Martin embezzlement) 369, 393. 48 

yC> Net loss to the trust funds through the embezzlement of R. H. Martin, 
former treasurer, after making allowance for the |4,000 recovered from 
his bondsmen, was as follows: 

Corcoran endowment fund 13, 774. 21 

H. PI. Carter scholarship fund 5, 000. 00 

Total loss 18, 774. 21 

In addition to the above, there are two funds which may or may 
not be entitled to reimbursement from the general fund. 

From the Eleanor J. Cooper fund $1,900 has been paid out of 
income account to the medical department for the purpose of con- 
ducting an investigation of the nature of the malarial poison arising 
from sewer gas. The cost of this investigation has not been defi- 
nitely ascertained. There has also been paid out of tliis fund into 
the general fund the sum*of $12.50. 

The Hampton Y. Denman bequest was ''for the use and benefit of 
the law department." The money received, amounting to $8,179.32, 
was paid mto the general fund. It would seem that any excess of 
expenditures from the general fund '' for the use and benefit of the law 
department" over receipts by the general fund from the law depart- 
ment would be a proper expenditure of the amount received on this 
bequest. 

The following assets are held for the various funds : 

Congressional professorship fund : 

Lot 8, square 13 (assessed value) |2, 565. 00 

Lot 10, square 13 (assessed value) 2, 218. 00 

Lot 12, square 13 (assessed value) 4, 588. 00 

Lot 13, square 13 (assessed value) 3, 924. 00 

Lot 9, square 16 (assessed value) 2, 224. 00 

Lot 8, square 23 (assessed value) 3, 055. 00 

Lot 2, square west of 23 (assessed value) 1, 069. 00 

Lot 5, square 83 (assessed value) 3, 590. OQ 

Lot 5, square 87 ^assessed value) 1, 896. 00 

Lot 2, square 88 (assessed value) 492. 00 

$25, 621. 00 

Admiral Powell endowment: 

House, 1707 I Street, assessed at 18,923.00 

Cash in bank 425.05 

Fitch prize fund, 2 shares American Telephone & Telegraph Co. stock.. . 236. 00 

Cutter prize fund, 100 shares Washington Sanitary Improvement Co. stock. 1, 000. 00 
Walsh prize fund, 30 shares Washington Sanitary Improvement Co. 'stock. . 300. 00 

Ordronaux prize fund, |5,000 Chicago, Rock Island & Pacific collateral 

trust 4 per cent bonds - 4, 060. 97 

Cooper medical endowment: 

$5,000 Chicago, Rock Island & Pacific collateral trust 4 per cent bonds. 4, 118. 75 
Note of Thomas R. Marshall, secured by deed of trust on Losekam's 
caf6, 1323 F Street, and lot 70, block 30, Columbia Heights (part of 

a loan of $53,000, 5 per cent) 5, 000, 00 

Note of Lewis Spectre, secured by deed of trust on lot 64, square 1017 

(part of a loan of $1,800, 5 per cent) 200. 00 

r^ Cash in banks 155. 5C 

Alumni hall fund, cash in bank 135. 86 

Corcoran endowment fund : 

I*. Burgdorf lot (sublet 148, square 672), 3,000 square feet, assessed at 1, 350. 00 

S f 4 shares American Telephone & Telegraph Co. stock 472. 00 

t Cash in bank 180.53 



4 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEKSITY. 

Joint investments: 

Davis prize fund $700. 00 

Elton professorship fund 4, 375. 00 

Kendall scholarship fund 4, 500. 00 

National Park Seminary fund 500. 00 

Corcoran endowment, and building, site, and enlargement 

fund 26, 884. 17 

36, 959. 17 

Securities: 

$24,000 Chicago, Rock Island & Pacific refunding 4 per 

cent honds. 20, 959. 17 

Needham note,' secured by trust deed on 1710 N Street.. . 16, 000. 00 

$36, 959. 17 

Total assets 99, 137. 83 

vSeveral of tlie funds are in the nature of general endowment, the 
income of which the university is entitled to use for general ex- 
penses or for the support of the faculty, and as to these funds it has 
not been thought necessary to state an income account. Wliere 
under the terms of the trust the income is (hrected to be applied for 
a specific purpose an account of the receipts and ejfpenditures of 
income has been stated wherever practicable. 

As to certain of these funds, however, no such account has been 
prepared, for the following reasons: 

llie Kendall scholarship fund consists of a gift of S6,000 by the 
late Hon. Amos Kendall for the purpose of endowing scholarships 
for pupils of the Washington higli schools, and one scholar is ad- 
mitted each year, tuition free, for the full four years' course in the 
department of arts and sciences. Up to the time of the discontinu- 
ance of the preparatory school a preparatory course of two years 
in that school was also provided. 

The university is at present furnishing tuition to four "Kendall" 
students. 

As the cost of maintaining these scholarships has been largely in 
excess of the income from the fund, a statement of the account is 
unnecessary. 

The Morehouse scholarship is for a student preparing for the 
ministry. The university has for years been furnishing free tuition 
to a number of students preparing for the ministry. After the sale 
of the houses given by ]\Ir. Morehouse there was no investment of the 
proceeds to produce an income, and the expenditures of the university 
on account of ministerial scholarships would far exceed any possible 
income on $1,500, the amount of the fund. 

As to the Withington, Walker, Davis, Farnham, and M. M. Carter 
scholarships, there never was any investment of the funds, and 
therefore no income. The university, however, has always main- 
tained a number of free scholarships, the cost of maintaining which 
was greater than the income which might have been received had 
these funds been invested. 

Since 1903 there have been awarded annually scholarships of the 
value of $40 each under the Davis, Farnham, and M. M. Carter 
foundations, being figured on the basis of 4 per cent on $1,000, which 
is the principal of each of these funds. 

> The Needham note was pledged to Washington Loan & Trust Co. as collateral to a loan of $10,000 made 
to the university. Dr. Needham has paid the note and the $16,000 is held by the Washington Loan & Trust 
Co. ponding the payment of their loan. 



FINANCIAL CONDITION OP GEORGE WASHINGTON UNIVERSITY. 5 

The principal of the H. H. Carter fund of $5,000 was embezzled 
by R. H. Martin, and there has been no income therefrom. Since 
1903 the university has awarded annually scholarsliips of the annual 
value of $200 as H. H. Carter scholarships. 

There never were any investments made of the Staughton and Elton 
($500) prize fund or the Ruggles ($500) prize fund, and consequently 
no income. Medals appear to have been awarded annually, but it is 
impracticable to ascertain their value. 

The Davis prizes, under the terms imposed by the donor, are to 
be given in cash or medals, and in many instances medals were 
purchased, together with other medals awarded by the college or 
university, and the only accounts available show the total amount 
paid for medals at any one time. It is therefore impracticable to 
ascertain the amount expended for Davis medals. 

The difficulty experienced in stating those accounts which have 
been stated and the impracticability of stating others show the neces- 
sity of a change in the system of accounting, so that instead of turning 
all income from these various funds into the general fund and paying 
out of that fund for the various prizes and scholarships separate 
books should be kept, showing the receipts and disbursements of 
principal and income of each trust fund separately. 

The detailed report on the various funds is hereto appended. 
Respectfully, 

Nelson B. Keyser, 
Walter Lewis, 
Special Bank Accountants 

The Attorney General, WasTiington, D. C. 



CONGRESSIONAL ENDOWMENT. 

By the act of Congress approved July 14, 1832, it was enacted : 

That there shall be, and hereby are, granted to the Columbian College, in the 
District of Columbia, lots in the city of Washington, to the amount, in value, of twenty- 
five thousand dollars; which said lots shall be selected and valued by the commis- 
sioner of the public buildings, when requested by the trustees of the said college; 
and when the said lots shall be so selected and valued, the same shall be vested in the 
said corporation, in fee simple; to be by them held and disposed of in the manner 
following; that is to say, the said corporation, by proper and lawful act or acts, under 
their corporate seal, shall sell and dispose of the said lots, as soon as reasonably prac- 
ticable, for the best price or prices they can obtain; and shall vest the proceeds of 
the same in some public stock, or in stock of some incorporated bank. 

Sec. 2. And he it further enacted, That, when the lots aforesaid shall be selected and 
valued as aforesaid, the said commissioner shall make return of the numbers and 
description thereof to the clerk of the circuit court of the county of Washington, to 
be by him recorded among the records of land titles in the said county. 

Sec. 3. And he it further enacted, That the proceeds of the sales aforesaid, so to be 
vested, shall not be otherwise used by the said trustees than as a capital, to be by them 
forever hereafter kept vested as aforesaid; and the dividends or interest therefrom 
accuring shall, by them, be used and applied in aid of the other revenues of the said 
college, to the establishment and endowment of such professorships therein as now 
are, or hereafter shall be, established by the said trustees; and to and for no other 
purpose whatever. 

In pursuance of this act Joseph Elgar, commissioner, selected and 
conveyed to the Columbian College in the District of Columbia 180 
city lots. 



6 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

The act of Congress approved February 28, 1839, provided as 
follows : 

That the corporation of the Columbian College be, and hereby is, authorized to sell 
BO many of the city lots, granted to said corporation by the act to which this is supple- 
mental, as shall be sufficient to raise the sum of seven thousand dollars, and to apply 
the proceeds of such sale to the payment of debts due from said corporation, anything^ 
in the act to which this is supplemental to the contrary notwithstanding. 

The records of the trustees (vol. 2, p. 55) show that on April 23, 
1841, sufficient lots had been sold to realize the $7,000 which the 
corporation was authorized by the act of 1839 to use for the payment 
of debts due froni said corporation, and in addition thereto that 
there were in the treasurer's possession notes ao^gregating $4,187.39 
which had been taken for the sale of lots which ''when paid tlie pro- 
ceeds will be invested for the faculty fund." 

At that time there remained unsold lots then valued at $5,858. 
On page 56 of volume 2 of Trustees' j.ecords the following appears: 

From the foregoing it will appear that after the payment of the debts the property 
of the college remaining from the city lots will be about $10,000, which, under the act 
of Congress by which the grant was made, must be invested as a permanent fund to 
aid in support of the faculty. 

For a time the proceeds of the sales of lots appear to have been 

Eut into the endowment fund and the money invested. Ultimately, 
owever, the investments were sold and the proceeds of the sale put 
into the general fund. 

On April 13, 1864 (Trustees' Records, vol. 3, p. 115), the trustees 
ordered the general fund and the endowment fund to be consolidated, 
and since that date tlie proceeds of lots when sold were put into the 
general fund and no attempt made to invest the money. 

On account of the financial records of the institution prior to 1853 
being incomplete it has not been possible to arrive at the amount of 
the proceeds of the sales except by an examination of the records in 
the recorder of deeds' office from 1839 to date. From this it has been 
ascertained that of the 180 lots originally granted 170 have been sold 
and that the total consideration for the lots sold was $70,872.93. 
Deducting the $7,000 which the corporation was entitled to use under 
the terms of the act of 1839, leaves $63,872.93, which sum should 
have been invested in accordance with the provisions of the act 
of 1832. 

Of the original grant the following lots remain : 

Lot 8, square 13, assessed at $2, 565 

Lot 10, square 13, assessed at 2, 218 

Lot 12, square 13, assessed at 4, 588 

Lot 13, square 13, assessed at 3, 924 

Lot 9, square 16, assessed at 2, 224 

Lot 8, square 23, assessed at 3, 055 

Lot 2, square west of 23, assessed at 1, 069 

Lot 5, square 83, assessed at 3, 590 

Lot 5, square 87, assessed at 1, 896 

Lot 2, square 88, assessed at 492 

25, 621 

No credit has been allowed as against the proceeds of the lots sold 
for the amount paid for taxes on the unsold lots, because had the fund 
been kept properly invested there would have been at all times suffi- 
cient income from the fund to have paid such taxes. 



FINANCIAL CONDITIOIsr OF GEORGE WASHINGTON UNIVERSITY. 7 

By an act of the legislative assembly of the District of Columbia, 
approved July 25, 1871, entitled ''An act for the relief of the Colum- 
bian College in the District of Columbia, ' ' it was enacted, inter alia, 
as follows: 

That the Columbian College, in the District of Columbia, chartered by and organ- 
ized and acting under the act of Congress approved February ninth, eighteen hundred 
and twenty-one, may, from the proceeds of any sale of its property, apply such sum 
as may be needful to pay its present indebtedness and place its libraries, buildings, 
and apparatus of instruction in good condition, and execute all deeds needful to quiet 
the title of property already sold. 

By an act of Congress approved March 3, 1873, the title of the 
Columbian College was changed to Columbian University, and it is 
further provided in section 2 of said act as follows: 

That the act for the relief of the Columbian College in the District of Columbia 
enacted by the legislative assembly of said District, and approved July twenty-fifth, 
eighteen hundred and seventy-one, be, and the same is hereby, approved and con- 
firmed: Provided, That neither this act nor the said act of the legislative assembly 
of the said District shall be so construed as to authorize the said Columbian Univer- 
sity to sell or use the proceeds of any sale of land granted by Congress to said insti- 
tution for any purpose other than that expressed in the act of incorporation and the 
act granting any such land or real estate, or contrary to any will, devise, or grant 
of any land or real estate heretofore or hereafter made, by any person or persons to 
said institution. 

Although the act of Congress contains a proviso that neither that 
act nor the said act of the legislative assembly shall be construed as 
to authorize the university to sell or use the proceeds of any sale of 
land granted b}^ Congress for any purpose other than that expressed 
in the act of incorporation and the act granting such land, the trus- 
tees of the university considered this proviso as entirely prospective 
in effect and that sales of land and real estate already effected by 
virtue of the act of legislative assembly were then confirmed and 
approved by the act of Congress. This will appear from the fol- 
lowing : 

[From Trustees' Records, vol. 3, p. 354, extract from report of President Welling, Mar. 19, 1873.] 

I have the satisfaction of stating that at the session of the National Congress just 
terminated a bill was passed for the modification of our college charter * * * ap- 
proving and confirming the act passed by the legislative assembly of the District, 
approved July 25, 1S71, for the relief of the Columbian College, with a proviso that 
neither that act nor the act of Congress modifying our charter shall be so construed 
as to authorize the Columbian University to sell or use the proceeds of any sale of 
land granted by Congress to the college for any purpose other than expressed in the 
act of incorporation, and the act granting any such land or real estate, or contrary to 
any will, devise, or grant of land or real estate heretofore or hereafter made to tho 
institution. . * . * * 

The proviso is entirely prospective in its operation and effect, and hence the sale 
of land and real estate aheady effected by virtue of the act of the legislative assembly 
is now confirmed and approved by act of Congress. * * * 

In view of this contention we have ascertained from an examina- 
tion of the treasurer's cash books that the total cash received from 
the sale of Government lots during the period from July 25, 1871, 
to March 3, 1873, was $7,929.96. 

At about the time of the passage of the act of 1871 the trustees 
divided the south grounds of the college property at Mount Pleasant 
into building lots and sold a number of these lots during the period 
from July 25, 1871, to March 3, 1873. 

On June 24, 1873 (Trustees' Records, vol. 3, p. 361), the treasurer 
made a report showing assets amounting to $362,740.11, including 



8 FINANCIAL CONDITION OP GEORGE WASHINGTON UNIVEESITY. 

$32,840.11 of notes secured by deeds of trust. In this report he 
says: "The university is now free from debt (about S33,000 having 
been paid on this account durhio; the past two years), with the ex- 
ception of two or three small notes given the professors a few years 
ago, which there are ample means to pay, also a balance due on a 
note of S5,000 held by the Metropolitan Bank." 

The following statement shows the condition of the fund: 

Amount due from general fund for proceeds sale of lots $70, 872. 93 

Less amount authorized to be used for payment of debts by act of 1839 . . 7, 000. 00 

63, 872. 93 
Assessed value of 10 lots above described 25, 621. 00 



89, 493. 93 
POINDEXTER ENDOWMENT FUND. 

The first steps toward the raising of this fund were taken on August 
29, 1845, when the Rev. A. M. Poindexter, of Virginia, was employed 
as agent to solicit funds. In Trustees' Records, volume 2, page 90, 
the following appears: 

Resolved, That the Rev. A. M. Poindexter, of Virginia, be, and he is hereby, ap- 
pointed agent of the college to solicit funds in aid of the college, at a salary of $1,000, 
and that the committee on agencies be authorized to confer with him on liie subject. 

. On December 24, 1845 (Trustees' Records, vol. 2, p. 93), the follow- 
ing resolutions were passed: 

Resolved, That the Rev. A. M. Poindexter, the agent of the Columbian College, 
recently appointed, be, and he is hereby, authorized to make an effort to obtain in 
the District of Columbia and elsewhere collections and subscriptions of money to the 
amount of $50,000 for the pui-pose of being invested as a permanent endowment for 
the support of the college. 

Resolved, That the said agent be authorized and requested to solicit from female 
friends of the college, as a portion of the proposed endowment, a sufficient amount for 
the establishment i n the college of a professorship to be called ' ' The Pace professorship . ' ' 

Resolved, That the board of trustees is hereby pledged to all who shall become 
donors that the sums of money which shall be given for the permanent endowment 
of the college shall not be otherwise applied, excepting only so much as may be nec- 
essary to defray the expenses of its collection. 

Resolved, That the said agent be authorized also to make collections and receive 
.moneys to be applied for the purposes of the college by the board of trustees. 

On July 12, 1848 (Trustees' Records, vol. 2, p. 124), the Rev. A. M. 
Poindexter resigned as agent and made a report, in which the follow- 
ing appears: 

The whole amount in cash and pledges contributed through me to the college, 
including what was due for liquidation of debt and temporary provision, and exclud- 
ing interest on subscriptions, is $25,413.30. 

It will be noted that this amount includes both cash and pledges. 
These pledges were in the form of what were called "endowment 
bonds," a large proportion of which were uncollected at the time of 
Mr. Poindexter's resignation. 

On April 29, 1851 (Trustees' Records, a^oI. 2, p. 141), the following 
resolution was passed : 

Resolved, Tlmt a committee be appointed to fully examine, ascertain, an<l rt-port 
to the boai'd a statement showing the financial condition of the college, including a. 
particular account of the endowment fund, showing also the annual income of the insti- 
tution from all sources and the amount of balances now due the faculty on account 
of salary. 



FINAjSTCIAL COOSfDITION OF GEOEGE WASHINGTOK" LTjSTIVERSITY. 9 

On March 10, 1852 (Trustees' Records, vol. 2, p. 147), the com- 
mittee appointed April 29, 1851, made a report, in which the following 
appears: 

The ctllections on account of the endowment fund to the 1st of October, 1851, as 
"well as can be ascertained from the data presented to the committee, amount altogether 
to 111,396.90, as will more fully appear by a statement marked C. 

STATEMENT C (ABOVE REFERRED TO). 

From an examination of the repoi-t of the Rev. A. M. Poindexter for the "endow- 
ment fund, " including subscriptions to the "Rice professorship, " made to the board 
■of trustees in Julj^ 1S48, and recorded, and from statements since pre])ared by Mr. 
Pollard, it appears that the auKmnt subscribed for those purposes was as follows, viz: 

In the District of Columbia $1, 805. 00 

State of Virginia 9, 886. 00 

State of North Carolina 313. 60 

State of South Carolina 7, 297. 50 

State of Georgia 131. 20 

119,433.30 

Deduct from this amount the salary and expenses of the agent 

which were paid of this fund 2, 579. 97 

Deduct from this amoxint the salaiy and expenses of the agent 

which were paid by treasurer out of other funds 615. 00 

Deduct from this amount the salary and expenses of the agent 

which were paid to A. PtOthwell, treasuier, principal 9, 150. 27 

Deduct from this amount the salary and expenses of the agent 

which were paid to A. RothwelL treasurer, interest 888.68 

Deduct from this amount the salary and expenses of the agent 

which were paid to A. Rothwell since May, 1851 to October, 

1851 759.85 

Deduct from this amount the salary and expenses of the agent 

which were paid Prevsident Bacon, principal 535. 67 

Deduct from this amount the salary and expenses of the agent 

which were paid President Bacon, interest 62. 43 

14, 591. 87 

4, 841. 43 

From this it will appear that of the $11,396.90 net cash collected, 

),445.79 was on account of the principal of this endowment fund. 

The treasurer's cash books and reports covering this period are not 
available, but the figures prepareci by this committee appear to be 
the result of careful research, and, in the absence of the treasurer's 
accounts, may be taken as correct. 

Shortly after the report of this committee another treasurer was 
elected and a system of bookkeeping adopted, which show the 
receipts and expenditures of the treasurer. The college had no agent 
from the time of Mr. Poindexter's resignation until May 3, 1852, 
when Rev. W. F. Broaddus was appointed. Mr. Broaddus started 
what is known as the " Forty- thousand-dollar endowment fund," 
which is treated separately in this report. He also made collections 
on the Poindexter bonds. From the statement of receipts and 
expenditures, which is given in connection with the forty-thousand- 
dollar endowment fund, it appears that the amount of collections on 
Poindexter bonds, after the appointment of Mr. Broaddus as agent, 
is $3,003.24, from which must be deducted $923.47 paid for expenses. 

Part of the amounts collected for account of this fund was invested, 
but the securities were afterwards sold, and the whole amount 
eventually found its way into the general fund. 



10 FINAXCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

The following summary shows the condition of the fund : 
Poindexter endowment fund. 

Net amount paid to the treasurer and president of the college 
on account of princijial of subscriptions as per report audit- 
ing committee, March 10, 1852 (vol. 2, p. 151, Trustees 
Records) $10, 445. 79 

Amount collected after starting $40,000 fund 3, 003. 24 



Expenses of collection 923. 47 

Due from general fund 12, 525. 5G 



$13, 449. 03 
13, 449. 03 



FORTY-THOUSAND-DOLLAR ENDOWMENT FUND. 



On November 19, 1851 (Trustees Records, vol. 2, p. 146), the 
following resolution was adopted : 

Resolved, That Rev. W. F. Broaddus, of Kentucky, be requested to accept the 
general agency of the college for the collection of funds, and that his salary shall be 
$100 per month for the time actually employed, and traveling expenses, the salary 
to come out of his cash collections. 

On May 3, 1852 (Trustees Records, vol. 2, p. 159), a letter from 
W. F. Broaddus accepting the agency having been read, it was 
unanimously — 

Resolved, That a commission signed by the president and secretary be sent to Mr. 
Broaddus appointing him agent, on the terms of the resolution adopted November 
19, 1851, and that he be requested to come immediately to Washington. 

On June 1, 1852 (Trustees Records, vol. 2, p. 161), it was — 

Resolved, That in order to provide for the support of the faculty, with its proposed 
increase, it is indispensable that large additional means be afforded by the friends 
of the college in the bestowal of liberal contributions for a permanent endowment. 

At the same meeting the following resolutions were adopted: 

Whereas John Withers, Esq., of Alexandria, in Virginia, has promised to make 
to the endowment of the college a donation of $20,000 so soon as a like sum shall be 
secured from other sources: 

Resolved, That the agent be authorized to take bonded subscriptions for that object, 
payable so soon as the $20,000 shall be so bonded ; and also to make other collections 
for the college. 

Resolved, That the president of the college and the general agent be requested to 
obtain from Mr. Withers a suitable written obligation for his proposed donation. 

In Trustees Records, volume 2, page 244, January 11, 1854, appears 
a copy of the subscription signed i\v Mr. Withers, which is as follows: 

We, the undersigned, promise to pay to the board of trustees of the Columbian Col- 
lege, in the District of Columbia, or to their authorized agent, on or before the 1st 
day of July, 1853, the sums respectively annexed to our several names, on condition 
that the sum of $40,000 be secured by this effort for the increase of the endowment 
fund of said Columbian College on or before the 1st day of July, 1853, as aforesaid. 

And for the faithful performance of our respective subscriptions we hereby bind 
ourselves, our heirs and administrators, firmly by these presents. 

Witness our hand, June 2, 1852. 

$20,000. JoHX Withers, Alexandria. 

The bonded subscriptions referred to in the resolutions of June 1, 
1852, were taken in the following form: 

No.—. 

This agreement, made and entered into this day of , 185 — , between 

of the and State of , of the first part, and the trustees of Colum- 
bian Collefje in the District of Columbia, of the second part. Whereas the trustees 
of Columbian College are desirous to raise $40,000 for increasing the "endowment 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 11 

fund" of the college; and whereas John Withers, of Alexandria, has given his obli- 
gation to pay 120,000 of this sum on the 1st day of July next (1853), provided the 
other 120,000 shall by that time be secured; now, therefore, this agreement witnesseth 

that the said promises and binds himself and his heirs to pay to the trustees 

of the said Columbian College, or their successors in office, or their authorized agent, 

the sum of dollars, on the following conditions, viz: Should the sum of |40,000 

as above be secured by the 1st day of July, 1853, and be so officially announced by 

the board of trustees, in that case the aforesaid sum of dollars shall be due 

and payable to the said trustees; the principal thereof to be faithfully appro- 
priated by the trustees to the endowment fund forever, except so much as may be 
necessary for obtaining and collecting the same. But if the aforesaid sum of |40,000 
shall not be secured by the 1st of July, 1853, as aforesaid, then this agreement is to 
be null and void. 
In witness whereof the parties to these presents have hereunto set their hands and 

affixed their seals this day of , 185 — . 

[seal.] 

[seal.] 

On May 12, 1853 (Trustees Records, vol. 2, p. 207), W. F. Broaddus, 
the general agent, made a report in which the following appears: 

It gives me great pleasure to state that the sum of $20,000, which I undertook to 
raise for increasing the endowment fund of the college, has all been secured — namely, 
$18,396.50 in bonds and $1,603.56 in cash, making $20,000.06, which, added to Mr. 
Withers's subscription for $20,000, give $40,000.06 added to the endowment fund as the 
result of my agency. 

On January 11, 1854 (Trustees Records, vol. 2, p. 243), a committee 
appointed to wait on Mr. Withers reported : 

That he preferred at that time to retain the funds in his own hands, paying interest 
semiannually, and that Mr. Withers further stated that he would pay the interest 
regularly and the principal as soon as the other subscribers paid in theirs, stating that 
he wished his delay to prompt others to payment. 

Subsequently, on March 31, 1856 (Trustees Records, vol. 2, p. 321), 
the executive committee made the following report, which was 
accepted : 

The executive committee report that in pursuance of the instructions of the board, 
they have concluded the settlement with John Withers, Esq., of his $20,000 sub- 
scription to the endowment fund. Mr. Withers has conveyed to the college the house 
and lot on Third Street valued at $18,000, the deed for which has been recorded in 
the clerk's office. Four bonds, with coupons, for $500 each, of the Virginia and Ten- 
nessee Railroad Co., $2,000, and has paid into the hands of the treasurer of the board 
$900 in cash and due bills for arrears of interest. 

The house on Third Street was what is known as No. 220 Third 
Street, which was sold October 31, 1907, for $14,300 and the proceeds 
of the sale placed in the general fund. 

The Virgmia and Tennessee railroad bonds appear to have been 
sold between 1860 and 1868, during the incumbency of President 
Samson, and the proceeds presumably used for improvements to 
the college property. 

The treasurer's records during this period show a number of 
amounts received from the "sale of bonds" without specifying the 
nature of the securities sold. 

From the best information obtainable from well-informed brokers 
and others a valuation of 90 per cent of par has been placed on these 
bonds, and that amount charged to the general fund in making up the 
figures on this fund. 

Appended hereto is a statement of the receipts and disbursements, 
beginning May 12, 1853, from which it will appear that the collections 
on account of subscriptions to this fund by others than Mr. Withers, 
amounted to $14,111.97, which is in addition to $1,389.42 retained 
by W. F. Broaddus for salary and expenses. 



12 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

ENDOWMENT FUND. 

Collections from May 12, 1853, to January 10, 1870. 

1853. 

May 12. Rev. Wm. F. Broaddus (Poindexter) $150. 82 

Rev. Wm. F. Broaddus (Broaddus) 132. 30 

Transfer from special professorship fund 136. 84 

19. Rev. Wm. F. Broaddus, collections 150.00 

26. Mrs. Stewart 5. 00 

June 30. Mary Wilson 1, 500. 00 

Eliza Wilson 300. 00 

Robert P. Brown , . 200. 00 

Melville Wilson 100. 00 

Rev. Franklin Wilson, account $1,800 subscription 700. 00 

July 5. Rev. Wm. F. Broaddus (Poindexter) 43. 00 

Rev. Wm. F. Broaddus, collections , . . 107. 57 

8. Cassandra Browning 10. 00 

Lucv Gaines 5. 00 

Purchased $4,000 Maysville & Lexington R. R. bonds. $3, 500. 00 
Due from general fund for account accrued interest. . . 8. 65 

Paid commissions and expenses 10. 31 

18. Rev. Wm. A. Whitscarver 15. 00 

20. Nancv Redman 5. 00 

Rev. H . W. Dodge ' 20. 00 

Vincent Moss 60. 00 

Rev. George Bradford 100. 00 

25. Lucretia Clarke 300. 00 

Ann R. Harrison 60. 00 

Ann C. Shields 10. 00 

28. Rev. Wm. F. Broaddus (Poindexter) 100. 00 

Rev. Wm. F. Broaddus, collections 92. 11 

Agnes Taylor 10. 00 

Rev. Wm. F. Broaddus, collections 1,000.00 

Rev. Wm. F. Broaddus (Poindexter) 60. 60 

Rev. H. W. Dodge (Broaddus) 240.00 

Purchased from general fund two notes, Jos. Anthony, 

$525 each, secured by deed of trust 1, 050. 00 

Rev. Wm. F. Broaddus, collections 1,451. 64 

Purchased $3,000 MaysAdlle city convertible bonds. . . 2, 700. 00 

Corinthia Williams 25. 00 

Mrs. Ruth P. Griffith, in settlement of mortgage for account 

$1,800 subscription of Rev. Franklin Wilson 344. 00 

Rev. Wm. F. Broaddus, collections 220. 00 

Rev. H. W. Dodge 35. 00 

Rev. Wm. F. Broaddus (Poindexter) 40. 00 

Griffith note and interest for account $1,800 subscription Rev. F. 

Wilson 103. 00 

Mar. 9. Rev. Wm. F. Broaddus, collections 82. 00 

Griffith note and interest for account $1,800 subscription Rev. F. 

Wilson 103. 50 

May 8. Dr. P. B. Bowen 40.00 

June 9. Rev. Wm. F. Broaddus, collections 200. 00 

12. George M. Kendall 20. 00 

28. Vincent Moss 90. 00 

29. Melville Wilson 100. 00 

Sept. 5. Rev. Wm. F. Broaddus, collections 334. 10 

8. Rev. G. F. Adams, collections 688. 15 

Loaned to Second Baptist Church, Baltimore, secm'ed 

by mortgage and note 1, 000. 00 

12. Fayette M. Latham 30. 00 

Rev. A. M. Poindexter for Russell bond 99. 25 

21. Loaned to Second Baptist Church, Baltimore, secured 

by mortgage and note 1, 000. 00 

Rev. Wm. F. Broaddus, collections 361. 66 

Northam collections (Poindexter) 25. 00 

Paid salary to Rev. George Northam 30. 00 



Sept, 


. 8, 




9. 




20, 




28, 


Oct. 


14, 


Nov. 


1 




7, 


Dec. 


10, 




15, 


1854. 


Jan. 


12. 




27, 


Feb. 


6, 



FINANCIAL, CONDITION OF GEORGE WASHINGTON UNIVERSITY. 13 

1854. 

Nov. 17. Rev. George F. Adams, collections $16. 67 

30. Rev. Lovell Marder 30. Oa 

Dec. 9. Principal Jos. Anthony note 525. 00 

18. Rev. John A. Broaddus, collections 25. 00 

1855. 

Jan. 6. Rev. W. B. Johnson (Poindexter) 48. 00 

11. Loan to general fund $1, 000. 00 

Apr. 13. Loan to general fund 351. 25 

June 8. Rev. G. W. Samson, collections 163. 83 

26. Nancy Redman 10. 00 

T. W. Walters 150. 00 

27. T. F. Grady 20. 00 

John Keen 30. 00 

29. Mrs. M. A. B.Jones 16.67 

30. George M. Kendall 40. 00 

July 2. G.W.Harris 10.00 

10. R. W. Cole, collections 5.40 

1855. 

July 13. Agnes Taylor 10. 00 

Aug. 24. W. A. Carter (Poindexter) 80. 00 

Sept. 5. W. F. Broaddus, collections 543.36 

14. R. W. Cole, collections 25. 00 

Oct. 3. R. W. Cole, collections 20. 00 

4. Rev. John A. Broaddus, collections 25. 00 

5. Rev. George Bradford 100. 00 

19. Prof. A. J. Huntington (Poindexter) 15.00 

20. Loan to general fund. 1, 000. 00 

26. Joseph Hammit, financial agent 250. 00 

Dec. 11. Princij)al Joseph Anthony Note 525. 00 

Collections by Joseph Hammit: 

Financial agent from May 18, 1855, to Mar. 8, 1856, 
$2,038.57 (less amount credited to endowment 

fund Oct. 26, 1855, $250) 1,788.57 

Proportionate part of salary and expenses of finan- 
cial agent 923. 47 

Due from general fund, net amount of collections 

Joseph Hammit 865. 10 

The collections by Joseph Hammit, financial agent, as 
shown by his report (see Records of Trustees, vol. 2, 
p. 317, etc.), were as follows: On account principal 
endowment fund bonds, $2,038.57; on account inter- 
est endowment fund and collection of other bonds 
applicable for general purposes, $1,244.07; total, 
$3,282.64. The salary and expenses of the agent 
amount to $1,487.03, and this expense has been pro 
rated. 
1856. 

Mar. 14. Christopher Curtiss 15. 00 

Mar. 10. Paid Chas. F. Wood & Son for account erection of 

Steward's building (general fund) 1, 000. 00 

July 12. Rev. George F. Adams, collection 26. 67 

Aug. 11. W. H. MacVeagh 5. 00 

W. W. James 10. 00 

26. Alfred Bagby 10.00 

John W. Street 15.00 

Sept. 6. Rev. D. Shaver 91. 50 

Peter Powell 30. 00 

16. Lavinia L. Norman 5. 00 

R. Potts 10.00 

Oct. 6. John Parker 10.00 

7. R.W.Cole 10.00 

R. V. Broaddus 10. 00 

Oct. 11. William A. Chapman 24.00 

Loan to general fund 310. 00 

21 . John A . Tabb 5. 00 

28. W. J. Morrisett 15.00 

30. R. P. Waring 30. 00 



14 FINAISrCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

1856. 

Nov. 12. S. C. Boston (Poindexter) |20. 00 

Dec. 1. Rev. H. W. Dodge 20.00 

Ann J. Pickett 10. 00 

John Pollard 25. 00 

2. Mrs. L. H. Cross 30. 00 

1857. 

Jan. 15. Loan to general fund $155. 00 

Feb. 7. H. W. Wardloa (Poindexter) 33. 00 

19. T. W. Sydnor (Poindexter) 80.00 

21. Loan to general fund 113. 00 

Mar. 24. W. J. Broaddus, collections 10. 00 

Apr. 11. A. J. Huntington (Poindexter) 35. 00 

June 2. W. H. Brown (Poindexter) 25.00 

5. Rev. George Bradford 100. 00 

6. M. P. Broaddus 10. 00 

Rev. R. W. Cole 10.00 

30. Due from general fund 190. 93 

July 9. G. J. Kelly .50.00 

Aug. 8. George F. Adams, collections 33. 00 

Oct. 7. J. H. C. Jones, collections 70. 00 

14. Loan to general fund 153. 00 

1858. 

Feb. 9. Eliza Hampton 5. 00 

Nov. 8. Rev. F. M. Barker (Poindexter) 50. 00 

1859. 

Jan. 13. Jno. R. Bagby 10. 00 

Feb. 5. Jos. R. Gurlick (bond Feb. 16, 1853) 50.00 

May 14. Received in settlement of $4,000 Maysville & Lexington R. R. 

bonds after foreclosui-e proceedings 1, 016. 00 

16. Geo. W. Samson, collections 125. 00 

June 25. Paid costs of collection Maysville & Lexington R. R. 

bonds 1. 20 

July 23. Transfer to general fund , 1, 254. 80 

1860. 
Apr. 12. Received from Church Extension Society, Baltimore, 

account mortgage and note 500. 00 

Less credit to interest 214. 31 

285. 69 

June 12. Received from Church Extension Society, Baltimore, 

account mortgage and note 203. 06 

Less credit 'to interest 8. 39 

194. 67 

Sept. 17. Rev. A. Bagby, collections 130. 00 

1861. 

Jan. 21. J. H. C. Jones (Poindexter) 60. 00 

June 27. Received from Church Extension Society, Bal-* 

timore $46. 00 

Less credit to interest 30. 00 

16. 00 

Transfer to general fund 16. 00 

J uly 11. Transfer to general fund 670. 36 

1862. 

July 16. Notes of Second Baptist Church 2, 000. 00 

Notes of Maryland Hospital received in exchange for 

notes of Second Baptist Church 2, 000. 00 

1863. 

Apr. 17. Maryland Hospital note 1, 000. 00 

Paid to Heywood & Bartlett on account college in- 
debtedness (general fund) 1, 000. 00 

May 12. Maryland Hospital note 1, 000. 00 

Paid American Colonization Society for account col- 
lege indebtedness 1, 000. 00 

1865. 
Apr. 12. Rev. F. Wilson ($1,800 subscription) 5. 00 



FINANCIAL CONDITION OF GEOKGB WASHINGTON UNIVEESITY. 15 

1866. 

Mar. 9. Seventh Baptist Church, Baltimore, principal of note $1, 250. 00 

10. Paid J. B. Naylor, account contract school building, 

general fund f 1, 250. 00 

1867. 

Dec. 3. Franklin Square Baptist Church, part payment note 230. 00 

80. Franklin Wilson, account |1,800 subscription— contri- . 

bution, $42.20, interest, 122.50 20.00 

1868. 
Sept. 30. $3,000 Maysville city bonds belonging to this fund sold 
(proceeds out in general fund and expended on 

president's house) 1, 905. 00 

1870. 
Jan. 10. Paid by Franklin Square Baptist Church, final pay- 
ment on Franklin Wilson (|1,800) and other Balti- 
more subscriptions ($575), $394.34, less amount credit 

to interest, $21.20 373. 14 

Due from general fund amounts received for endow- 
ment and applied to general fund for the period from 

Apr. 12, 1865, to Jan. 10, 1870 2,533.14 

1907. 
Oct. 31. Received for sale of house. No. 222 Third Street 

(Withers subscription) 14, 300. 00 

Oct. 31. Due from general fund, amount received on sale of 
house No. 222 Third Street and used for general 

expenses 14, 300. 00 

Value of $2,000 Virginia & Tennessee R. R. bonds 
received from John Withers as part of his subscrip- 
tion of $20,000 1, 800. 00 

Due from general fund value of $2,000 Virginia & 
Tennessee R. R. bonds 1,800.00 

Total 41, 186. 21 41, 186. 21 

SUMMARY. 

Receipts. 

Received for collections on subscriptions of bonds (subscriptions secured 
by Rev. A. M. Poindexter prior to the starting of the $40,000 endow- 
ment fund) $3,003.24 

Received for collections on subscriptions to the $40,000 fund 14, 111. 97 

Total collections 17, 115. 21 

Received from sale of house No. 222 Third Street (Withers subscription) . 14, 300. 00 

Value of $2,000 Virginia & Tennessee R. R. bonds (Withers) 1, 800. 00 

Received from investments sold or matured 7, 971. 00 

41, 186. 21 
Payments. 

Paid for account expenses of collection of subscriptions (Poindexter bonds) 923. 47 

Paid for account expenses of collection of subscription to $40,000 fund 

(in addition to $1,389.42 deducted by agent) 31.20 

954. 67 

Paid for investments Hj 260. 31 

Due from general fund: 

For account Poindexter collection |2, 079. 77 

For account $40,000 fund 26, 891. 46 

28,971.23 

41, 186. 21 



16 FINANCL-y^ CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

RECAPITULATION. 

Forty-thousand-dollar endowment fund. 

Amount collected from subscriptions $14, 111. 97 

Amount realized from sale of Third Street house (Withers) 14, 300. 00 

Value of $2,000 Vh-ginia & Tennessee R. R . bonds (Withers) 1, 800. 00 

30, 211. 97 

Paid for expenses of collection. 31. 20 

Losses on investments 3, 289. 31 

Transfer to general fund 26, 891. 46 

30, 211. 97 
ELTON PROFESSORSHIP FUND. 

[Devise under the will of Rev. Romeo Elton, D.D.] 

In Trustees' Records (vol. 3, p. 321, Apr. 10, 1872) appears the 
following extract from treasurer's report: 

The Elton fund, received April 8, 1872, from Prof. George I. Chase and George W. 
Samson, executors of the last will and testament of Romeo Elton, bearing date Sep- 
tember 25, 1868, to be applied for the foundation of a professorship of mental and moral 
philosophy in the Columbian College, to be called the Elton professorship of mental 
and moral philosophy, cash, |8,742.88. 

This money was not invested, but was applied toward the payment 
of the indebtedness of the university. The treasurer's cash book 
for the quarter ending June, 1872, contains the following entry: 

The Elton fund. 

On April 29 this fund was paid in the National Savings Bank by direction of the 
executive committee on account of the loan from said bank, $8,742.88. 

In Trustees' 'Records (vol. 3, p. 361, June 24, 1873) appears the 
following extract from treasurer's report: 

Bonds and notes have been set aside to represent the various funds as follows: 

ELTON FUND. 

Chesapeake & Ohio Canal bonds: 

Nos. 2041, 2053, 2054, 2055, 2056, 2057, 2058, and 2060, each $1,000 $8, 000 

Nos. 1640 and 1641, $500 each 1,000 

9,000 

In Trustees' Records (vol. 4, p. 225, Mar. 14, 1888) the following 
appears in the president's report: 

I have to report that Dr. George W. Samson, of New York, sole surviving executor 
of the late Romeo Elton, D. D., sometime a professor in the Columbian College, has 
' paid over to the treasurer of the university the sum of $6,432.92 in part payment of a 
residuum of the legacy left to the university by the decedent under the terms of his 
last will and testament. A small balance is still due upon the legacy. The sum 
above stated was paid to the treasurer in the following shape: 

$2,000 Burlington & Missouri River R. R. land mortgage bonds, at 7 per 

cent, Nos. 3011, 3012, at 109 $2, 180. 00 

5 months and 10 days' accrued interest 62. 22 

$3,000 United States coupon bonds, Nos. 14783, 14784, 14796, at 124 3, 720. 00 

Accrued interest at date of delivery 23. 33 

Check of S. S. Shaw, trustee 447. 37 

6, 432. 92 



FINANCIAL. CONDITION OF GEORGE WASHINGTON UNIVERSITY. 1.7 

The cash received was not invested, but was used by the general 
fund. The $2,000 Burhngton & Missouri River R. R. bonds and the 
$3,000 United States 4 per cent bonds were sold by R. H. Martin,' 
the then treasurer of the university, on June 12, 1893, and the pro- 
ceeds, amounting to $5,317.94, were mingled with moneys belonging 
to the Corcoran fund and used in the purchase of certain notes secured 
by real estate. Subsequently a note of $5,000 of Roberta K, F. 
Oberteuifer was transferred from the Corcoran fund to represent 
$5,000 of the Elton fund. The balance of $317.94 is due from the 
Corcoran fund. 

The Oberteuffer note was paid February 7, 1899, and the proceeds 
invested in a note of J. B. Wimer for $5,000. The Wimer note was 
paid April 11, 1902, and the proceeds invested in a note of E. S, 
Parker for $5,000. 

The Chesapeake & Ohio Canal bonds having been dropped from the 
treasurer's report of 1897 as worthless, the remaining assets of the 
Elton fund, consisting of the E. S. Parker note for $5,000, was carried 
in an account called "Investment A," which included a number of 
small endowments. 

On November 2, 1902, this E.. S. Parker note of $5,000 and anothei^ 
note of Parker's for $3,000, belonging to the Kendall fund, were paid 
off, and on January 10, 1903, the proceeds were invested in a loan of 
the American Institute of Architects for $8,000. On February 20, 
1907, the $8,000 American Institute of Architects loan was sold. " Out 
of the proceeds $1,000 was invested in a note of Pauline Goldman, 
and $7,000 was invested in the house 1710 N Street, and is now part 
of the $16,000 Needham mortgage. The proportionate ownership of 
this fund in the Goldman note was $625, and in the $7,000 invested 
in the N Street house $4,375. On August 31, 1908, the Goldman note 
was sold, and c.-i the same day the proceeds were loaned to the general 
fund. The general fund is therefore indebted to this fund in the sum 
of $625 on this transaction. 

The following summary will show the condition of the fund : 

Apr. 1, 1872, cash received from executors $8, 742. 88 

Mar. 10, 1888, cash received from executors 447. 37 

June 12, 1893, cash received from sale of securities received from executors. 5, 317. 94 

Total 14,508.19 

Due from general fund 9, 815. 25 

Due from Corcoran fund 317. 94 

Invested in Needham mortgage of $16,000 on house 1710 N Street 4, 375. 00 

Total 14, 508. 19 

SYMS LEGACY. 

By the will of Samuel Robert Syms, of West Hoboken, Hudson 
County, N. J., dated October 12, 1891, it is provided as foUows: 

Ninth. After the death of my said wife I give, devise, and bequeath the said 
property, bequeathed and devised in trust in the aforesaid eighth clause of my will, 
as follows, viz: 

"I give and bequeath * * * to the trustees and overseer of the Columbian 
University, in the District of Columbia, the sum of |10,000, to be applied by them 
toward the endowment fund of the college proper." 

68966— H. Doc '1060, 61-3 2 



18 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVEESITY. 

At a meeting of the corporation, January 20, 1892 (Trustees' Rec- 
ords, vol. 4, p. 373), President Welling, in his report, states that the 
university — 

has just been remembered in the last will and testament of the late Samuel R. Syms, 
of Hoboken, N. J., who has bequeathed the sum of $10,000 for the endowment of the 
college, to be paid on the death of his widow. 

The folloA\'ing is an extract from the minutes of a meeting of the 
executive committee, March 7, 1894: 

A letter from Rev. T. J. Morgan, corporation secretary. Home Mission Society, was 
read, asking the university to forward the sum of 162.50, its pro rata share of attorney 
fees in the matter of the contested will of the late Samuel R. Syms, of Hoboken, N. J., 
the Columbian University being one of the legatees to the amount of $10,000. On 
motion of Dr. Welling, the treasurer was directed to forward the amount asked for 
to Gen. Morgan. 

At a meeting of the board of trustees held April 28, 1896 (Trustees' 
Records, vol. 5, p. 91), two letters were read from D. W. Perkins, Esq., 
of New York, the attorney employed by the university and other lega- 
tees under the will, advising the acceptance of a proposition for a set- 
tlement of the legacy on a basis of 15 cents on a dollar of the face 
thereof, stating that all the other societies interested had accepted 
the offer. 

The trustees thereupon voted to accept the settlement as indicated 
in the letters from Mr. Perkins. 

In the treasurer's report for the fiscal year ending May 31, 1897 
(Trustees' Records, vol. 5, p. 203), under the heading of "General 
expense account — receipts," is the following entry: 

Compromise of Syms's legacy, $1,500. 

This amount, having been placed in the general fund, was used for 
current expenses, and no attempt was ever made to invest the same. 

The amount received on account of the legacy (SI, 500) is therefore 
due from the general fund. 

WITHINGTON SCHOLARSHIP, $1,573.20. 

This scholarship was founded under the following circumstances: 
In November, 1822, the trustees of Columbian College, in the District 
of Columbia, borrowed from the board of trustees of the New York 
Baptist Theological Seminary the sum of $1,368. This sum was 
never repaid. The trustees of the college having requested the 
trustees of the seminary to donate this amount to the college, they 
declined to do so, but agreed to subscribe the amount of the loan, 
with interest, amounting on December 4, 1826, to $1,573.20, for the 
purpose of endowing a scholarship in the said college, to be named 
the Withington scholarship. In the Trustees' Records (vol. 1, p. 169), 
imder date of December 13, 1826, the following appears: 

The report of Mr. Galusha, agent, up to December 4, 1826, was laid before the board, 
containing the following statement and proposition, viz: "The Baptist Theological 
Society, of New York, has resolved to place the amount due it from the Columbian 
College upon my subscription, on condition it shall be considered as founding a 
scholarship to bear up the name of Withington (deceased) * * *. The amount of 
said debt is not far from $1,550." 

On motion of Mr. Smith, resolved that the proposition be accepted. 



FINANCIAL CONDITION" OP GEORGE WASHINGTON UNIVERSITY. 19 

In the Trustees' Records (vol. 1, p. 315) appears a copy of a letter 
received from the Rev. S. H. Cone on behalf of the New York Baptist 
Theological Seminary. This letter is as follows: 

New York, December 29, 1829. 

Dear Brother: The board of the New York Theological Seminary met in Oliver 
Street yesterday, when I laid before them your letter touching the donation to the 
Columbian College, and am instructed to give you the following reply: 

"At a meeting of the board held December 4, 1826, it was unanimously resolved 
that the sum of $1,368, which was loaned by the board to the trustees of the Columbian 
College in the District of Columbia in November, 1822, with the interest due thereon, 
$205.20, making together $1,573.20, be now subscribed for the purpose of aiding the 
trustees of the college in liquidating their present debt upon the following condition, 
viz: The trustees of the aforesaid college in the District of Columbia to receive the 
aforesaid sum of $1,573.20 for the purpose of endowing a scholarship in the said col- 
lege to be named 'The Withington ' scholarship. 

"The board can not alter this vote. The money was left them by Brother With- 
ington to endow a scholarship, and should we appropriate it to any other object the 
heirs of Brother Withington would have a legal claim, upon it. 

^'The board is of opinion that the trustees of the Columbian College ought not to 
desire this vote to be altered, because the money was borrowed by Mr. Rice, as agent 
of the college, upon a mortgage on real estate in Washington, and our money lost 
because that mortgage was not recorded according to promise, and more especially 
do we think the name of Brother Withington ought to be preserved in the shape of a 
scholarship in your institution from the fact of his having left $5,000 to the college, 
the balance of which legacy, our Brother Colgate informs us, will be paid to the order 
of your treasurer January 31, 1830. 

"By order of the board of trustees of the New York Baptist Theological Seminary." 

S. H. Cone. 

To Rev. R-OB. B. Semple, President, etc. 

At a meeting of the trustees of the Columbian College, held Feb- 
ruary 11, 1830 (see Record Book 1, p. 314), it was — 
On motion, 

Resolved, That the Withington scholarship be founded on the conditions stated by 
Rev. Mr. Cone's letter of December 29, 1829. 

No attempt has ever been made to fund this scholarship. The 
money originally borrowed had been expended, and at the time the 
scholarship was founded the college was largely in debt without any 
means of liquidating the same except its grounds and college build- 
ings on what was known as College Hill or Mount Pleasant. 

WALKER SCHOLARSHIP, $2,500. 

The only reference to this scholarship appears in Trustees' Records 
(vol. 1, p. 84) under date of July 19, 1824, as follows: 

The agent reported that William Walker, sr., Esq., of Putnam County, Ga., had 
paid the full amount of his subscription, $2,500, for the endowment of a scholarship. 

There does not appear to have been any attempt at any time to 
fund this scholarship, and the amount received from Mr. Walker was 
doubtless used for the general purposes of the college. 

MOREHOUSE SCHOLARSHIP. 

[Trustees' Records, vol. 3, p. 39, November 16, I860.] 

Mr. Samson stated that owing to the present condition of affairs he had met with 
difficulty in meeting his engagements for the improvement of the college buildings, 
etc., and that on application to a friend of the college, who he understood had in his 
will devoted a $1,000 to the college, to give him the sum now to meet his payments, 



20 financiaij condition or george Washington univeesity. 

that 'gentleman, Mr. Morehouse, of Washington, had stated to him that he had desig- 
nated $2,000 in his will for the college, and owing to the present condition of financial 
affairs could not raise the thousand dollars or dispose of any property without sacrifice, 
but would give him toward the improvements of the college two frame houses on the 
island, renting for $10.50 per month. 

Mr. Samson asked of the board that they would take those houses in lieu of a note of 
his which was in the general fund for $1,000, and which he was about to pay and allow 
him to devote that sum to pay on the improvements. 

On motion, it was referred to the executive committee with power to act. 

At a meeting of the trustees, January 19, 1861, the executive com- 
mittee reported favorably upon the proposition of Dr. Samson, and 
the following resolutions were thereupon offered and adopted. (See 
Records Trustees, vol. 3, p. 43.) 

TMiereas A. Morehouse, of Washington, D. C, has given to the Columbian College 
two small houses, situated on G Street south, near Seventh Street, supposed to be 
worth about $1,000; and 

Whereas Mr. Morehouse has made this donation to the college with the design of 
adding to its ability to furnish gratuitous instruction to indigent students for the 
Chi-istian ministry; therefore • 

Resolved, That "the president be authorized to select annually from such applicants as 
seem most deserving one or more indigent students for the Baptist ministry, whenever 
Buch present themselves, to whom tuition shall be furnished gratis to the amount of 
the annual income derived from said property, or of the interest derived annually 
from its proceeds when sold. 

Resolved, That the fund derived from the sale of the aforesaid property take the name 
of the ' ' Morehouse scholarship . ' ' 

[Trustees' Records, vol. 3, p. 151, July 12, 1865.] 

The committee on college grounds and buildings reported in favor of the erection 
of a preparatory school building at a cost of $8,450. They further say, "It is prop'osed 
to meet the amount required, $8,450, in the following manner: Mr. Naylor agrees to 
take in part payment two small houses on G Street south, between Seventh and Eighth 
Streets west, at the sum of $1,500." 

On motion of Dr. Gunton the report was received and the deeds to the property 
mentioned in the report ordered to be prepared and signed by the president and 
secretary of the board to Mr. Naylor. 

From an examination of the records it appears that these two houses 
were deeded by the Columbian College to the assignees of J. G. Naylor. 

No attempt was ever made to invest the proceeds of the sale of 
these houses so as to produce an income, as contemplated by the reso- 
lutions of January 19, 1861. 

Having been applied toward the cost of construction of the pre- 
paratory school building, that building was afterwards sold along 
with the college grounds and the proceeds of such sale put into the 
general fund. 

The amount of tliis fund, $1,500, is therefore due from the general 
fund. 

KENDALL SCHOLARSHIP FUND. 

In Trustees' Records (vol. 3, p. 236, Feb. 12, 1869) it appears that 
the following communication was read from the Hon. Amos Kendall: 

Washington, February 4, 1S69. 
Gentlemen: On behalf of the Calvary Baptist Church in the city of Washington 
I tender you $6,000 to purchase a classical scholarship in your institution upon the 
following conditions, viz: First, that said church shall be entitled to perpetual repre- 
sentation in the election of the board of trustees of said college. Second, that the 
trustees of public schools in the city of Washington in the District of Columbia and 
their successors by whatever names they may be called, shall have the perpetual 
privilege of selecting from said schools one pupil annually to fill said scholarship, 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEBSITY. 21 

and the pupils so selected shall each be entitled to instruction in said college for the 
term of six years, free of charge for tuition, use of library and apparatus, or for any 
other privilege allowed to paying students of the same grade. On receiving official 
notice of the acceptance of the foregoing proposition with the conditions annexed by 
your board, I shall be prepared to pay to their order the proffered consideration of 
f6,000. 

With profound respect, your obedient servant, 

Amos Kendall. 
The Board of Trustees of the Columbian College. 

On motion of Mr. Wilson from the academic committee the following resolutions 
were adopted: 

'^Resolved, first, That the $6,000 tendered to the board of trustees of Columbian 
€ollege, in a communication dated February 4, 1869, by Hon. Amos Kendall, for the 
purpose of founding a classical scholarship upon certain conditions set forth in said com- 
munication be, and the same is hereby, accepted with the conditions annexed thereto. 

'^Second, That this scholarship be named 'Kendall scholarship.' 

''Third, That the thanks of this board are due and are hereby tendered the Hon. 
Amos Kendall for this valuable donation. 

"Fourth, That the president of the college be requested to inform the board of trus- 
tees of public schools of Washington, D. C, that the 'Kendall scholarship' has been 
founded for the benefit of said schools and to advise the board of the terms and condi- 
tions of the same. 

"Fifth, That the secretary of the board be instructed to furnish a copy of these 
resolutions to Hon. Amos Kendall." 

The university has continuously maintained scholarships under this 
foundation. Each year a scholarship is awarded to a student of the 
Washington high schools. There are at present four ''Kendall" 
students in the university. As the cost of maintaining these scholar- 
ships is far in excess of the income from the fund, it will not be neces- 
sary to state an account of the income from investments. 

The treasurer's cash book under date of March 1, 1869, and the 
treasurer's report as recorded in Trustees' Records (vol. 3, p. 245) 
show: 

Received from Hon. Amos Kendall for scholarship $6,000. 

This money was not invested but was placed in the general fund 
and was used with other moneys for current expenses and for pay- 
ments on account of the erection of a president's house on the grounds 
of the university. 

In the treasurer's report for the period from March 18 to June 18, 
1873, as shown by the treasurer's cash book and also on the Records 
•of Trustees (vol. 3, p. 361), under date of June 24, 1873, appears the 
following : 

Bonds and notes have been set aside to represent the various funds as follows: 

KENDALL FUND. 

To four notes of James E. Fitch, dated June 1, 1872, due in 2, 3, 4, and 5 years from 
date, $1,500, $1,500, $1,500, $1,497.60— $5,997.60. 

In June, 1874, Fitch paid one of the $1,500 notes and on June 4, 
1875, he paid another $1,500 note. The amounts were put into the 
general fund. On June 29, 1875, the university set aside two other 
notes of Fitch for $1,175 each, to represent $2,350 of the amount 
received from Fitch; and to represent the balance of $650, a bond of 
the Chesapeake & Ohio Canal Co. for $1,000 was "set aside." On 
May 31, 1881, Fitch paid the two notes, amounting to $2,350, and the 
university purchased $2,000 United States 4 per cent bonds for 
$2,250, and the balance of $100 was placed in the general fund. 
May 31, 1883, Fitch paid the remaining notes, amounting to $2,997.60, 



22 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

out of which was purchased $1,000 District of Columbia 3.65 bond 
for $1,100, and the balance was put in the general fund. There was 
transferred from the general fund a note of J. W. Hogg for $1,875, 
leaving $22.60 due from the general fund on that transaction. 

On June 12, 1893, the $2,000 United States 4 per cent bonds and 
the $1,000 District of Columbia bond were sold by the then treasurer, 
R. H. Martin, for $3,309.61, and the proceeds mingled with moneys 
belonging to the Corcoran endowment fund in the purchase of certain 
notes secured by real estate. From these securities the treasurer set 
aside for this fund a $3,000 interest in a $5,000 loan to John Mac- 
Gregor, leaving $309.61 due from the Corcoran endowment fund. 

The MacGregor note was afterwards paid off, and the proceeds 
invested in a note of J. B. Wimer for $3,000. 

The Wimer note was paid April 11, 1902, and the proceeds invested 
in a note of E. S. Parker for $3,000. 

The Chesapeake & Ohio Canal bonds having been dropped from 
the treasurer's report of 1897 as worthless, the remaining assets of 
the Kendall fund consisting of the two notes amounting to $4,875 
were carried in an account called "investment A" which included 
a number of small endowments. 

On November 2, 1902, the E. S. Parker note of $3,000, belongmg 
to this fund, was paid, and another note of Parker's for $5,000, 
belonging to the Elton professorship fund, was paid off, and on 
January 10, 1903, the proceeds were invested in a loan of the Ameri- 
can Institute of Architects for $8,000. 

On February 20, 1907, the $8,000 loan of the American Institute 
of Architects was sold. 

Out of the proceeds, $1,000 was invested in a note of Pauline 
Goldman and $7,000 was invested in the house 1710 N Street and is 
now part of the $16,000 Needham mortgage. The proportionate 
ownership of this fund in the Goldman note was $375, and in the 
$7,000 investment in the N Street house was $2,625. On August 
31, 1908, the Goldman note was sold and on the same day the pro- 
ceeds were loaned to the general fund. The general fund is, there- 
fore, indebted to this fund in the sum of $375 on this transaction. 

The J. W. Hogg note was sold June 15, 1907, for $1,875 and the 
proceeds mingled with moneys belonging to the Davis prize fund, 
National Park Seminary fund, Corcoran endowment fund, and the 
B. S. and E. fimd in the purchase of Chicago, Kock Island & Pacific 
refunding 4 per cent bonds, of which $24,000 are now held. 

The following summary will show the condition of the fund: 

Received from Hon. Amos Kendall $6,000.00 

Due from general fund $1, 150. 00 

Due from Corcoran fund 309. 61 

Loss on bonds sold 40. 39 

Invested in Needham mortgage 2, 625. 00 

Invested in Rock Island bond? 1, 875. 00 

6,000.00 



riNANCIAL CONDITIOISr OP GEORGE WASHINGTON UNIVERSITY. 23 



DAVIS SCHOLARSHIP FUND. 



[Trustees' Records (vol. 3, p. 247).] 



At a special meeting of the board of trustees held October 28, 
1869, the following proposition of Gov. Davis, of Massachusetts, was 
submitted : 

Isaac DaAds, of the State of Massacliusetts, proposes to establish a scholarship in 
Columbian College by paying the sum of $1,000 to the trustees of said college. 

Said sum is to be safely invested at interest forever by the trustees aforesaid. 

The annual income of said scholarship is to be appropriated to some student pursu- 
ing his collegiate course in said college under the following restrictions, limitations, 
and conditions: 

First. The founder of the scholarship, and after his death his oldest lineal descend- 
ant, shall have the right to nominate the scholar who is to enjoy the benefit of the 
scholarship. 

Second. In case the founder of the scholarship or his lineal descendant make no 
nomination, then the faculty of the college for the time being shall make the 
nomination. 

Third. If there are several applications for the benefit of the scholarship, a Baptist 
is always to have the preference. 

Fourth. No person is to have the benefit of the scholarship who has the ability to 
sustain himself without it, and whenever anyone holding the benefit falls below 
mediocrity in his class, or is guilty of any immoral conduct, or does not obey the laws 
and ordinances of the college, he is to be cut off from the benefit of the scholarship at 
once. 

Fifth. In case no one for a term or a year has the benefit of the scholarship, then 
the interest accumulating during said time when no person is occupying said scholar- 
ship shall be added to the principal and kept at interest as aforesaid. 

Sixth. In case the trustees of the college do not observe and fully obey the above 
restrictions, reservations, and conditions, my oldest lineal descendant shall have a 
right to sue for and recover the whole amount of the scholarship to his own use. 

Worcester, September, 1869. 

If the above scholarship is accepted with the above restrictions, reservations, and 
conditions by the trustees of said college, then upon being informed I will remit the 
funds. 

Isaac Davis. 

On motion of Mr. Wood, the following was adopted : 

Whereas Gov. Isaac Davis, of Worcester, Mass., has made to the board of trustees of 
Columbian College the above-mentioned proposition: 

Resolved, That the board of trustees of Columbian College have a high and grateful 
appreciation of the gift thus conferred and accept the same under the conditions as 
specified. 

The treasurer's cashbook shows the receipt on December 28, 1869, 
from Hon. Isaac Davis for scholarsliip of the sum of $1,000. This 
amount was not invested, but was put into the general fund and 
used with other receipts for current expenses and payments on 
account of the cost of building a house on the college grounds for the 
use of the then president, Hev. George W. Samson, D. D. 

The investment of endowment funds in college buildings was 
regarded by President Samson as a proper method of investment, 
and he so states in one of his annual reports. When the college 
property on College Hill was sold, there was no attempt to ascertain 
and separate the endowment funds, but the proceeds of the sale were 
apphed toward the cost of the ground and buildings of the university 
at Fifteenth and H Streets. 



^4 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVEESITY. 

[Trustees' Records, vol. 3, p. 361, June 24, 1873, from Treasurer's Report.] 
Bonds and notes have been set aside to represent the various funds as follows: 

DAVIS PRIZE FUND. 

Chesapeake & Ohio Canal bond No. 960 $1,000 

The Chesapeake & Ohio Canal bonds were dropped from the treas- 
urer's report of 1897 as wortlik^ss. 

These bonds were sold on January 4, 1904, at 27 };er cent of par, 
and the proceeds placed in the general fund. 

At the time this bond was "set aside" to represent tliis fund, it was 
about 15 years in default of interest, and it is doubtful whether its 
market value at that time was as mucli as was eventually realized. 

TJiis bond is part of 113,000 of Chesapeake & Ohio Canal bonds 
wliich were owned by the college. Of these $4,000 were purchased 
in the years 1851 and 1852 at 76 per cent of par to 88 per cent of par. 
It appears from the Trustees' Records, April 13, 1859, that the bonds 
were then selling at 26 per cent of par. 

Nine tliousand dollars of these bonds were received from the estate 
of John Withers in the year 1866, and in the auditor's account the 
bonds were quoted at 15 per cent of par. 

FARNHAM SCHOLARSHIP FUND. 

[Trustees' Records, vol. 3, p. 288, May 5, 1871.] 

Dr. Samson stated that he had received a donation of $1,000 from Mrs. Robert 
Farnham designed for a scholarship in the college and he suggested that the scholarship 
be called after Mrs. Farnham. 

The treasurer's cashbook under date of May 6, 1871, shows the 
receipt of cash from Mrs. Farnham SI, 000. This money was not 
invested, but was placed in the general fund and was used with other 
funds for the payment of salaries and other expenses. In the treas- 
urer's report for the period from March 18 to June 18, 1873, entered 
in the treasurer's cashbook, and also in the Records of Trustees 
(vol. 3, p. 361) under date of June 24, 1873, appears the following: 

Bonds and notes have been set aside to represent the various funds as follows ; * * * 

FARNHAM FUND. 

Chesapeake & Ohio Canal bond No. 2164 $1,000 

A statement of the conditions in connection with the Chesapeake & 
Ohio Canal bonds ajupears in the account of the Davis scholarship 
fund. 

M.\RIA M. CARTER SCHOLARSHIP FUND. 

Trustees' Records (vol. 3, p. 283, Apr. 12, 1871) show the follow- 
ing communication received from the president of the college : 

That a donation of $1,000 had been made to the college by ]\Irs. Maria M. Carter. 

On page 308 of the same volume under date of August 11, 1872, 
there is a letter from the president of the college, submitting a propo- 
sition in regard to a further donation, in which the following appears : 

I herewith submit for your consideration a letter from Mrs. Maria M. Carter, who 
lately gave a subscription of $1,000 to the college to found a scholarship for some 
deserving young man. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 25 

The treasurer's caslibook under date of April 13, 1871, shows the 
receipt of contribution of Mrs. Maria M. Carter $1,000. This sum 
was not invested, but was placed in the general fund and used with 
other funds for the payment of salaries and other indebtedness of the 
college. 

In the treasurer's report for the period from March 18 to June 18, 
1873, entered in treasurer's cashbook and also in the Records of 
Trustees (vol. 3, p. 361), under date of June 24, 1873, appears the 
following : 

Bonds and notes have been set aside to represent the various funds as follows: * * * 

CARTER FUND. 

Chesapeake* Ohio Canal bond No. 2165 $1,000 

A statement of the conditions in connection with the Chesapeake & 
Ohio Canal bonds appears in the account of the Davis scholarship 
fund. 

ADMIRAL POWELL ENDOWMENT. 

The late Admiral Levin M. Powell by his last will and testament 
devised to the university, in trust, the house and lot known as 1707 
I Street NW., Washington, D. C. The fifth item of the will, which 
creates the trust, reads as follows: 

Item: Fifth, it being my wish and desire to make some contribution to the Navy 
of the United States of which I have been for so many years, I hope, a worthy mem- 
ber, and so in a measure to pay off the debt I feel I owe the honorable profession I 
have pursued through a long lifetime, and to that end to establish in the Columbian 
University in the District of Columbia, in a manner most conducive for that purpose 
a means for the education of such young men as may be willing to profit therefrom 
in the branches of education best fitted to prepare them for officers of the linein 
the Navy of the United States, or for the places of mates or captains in the Marine 
Service of the United States, I do hereby give, devise and bequeath to the said 
Columbian University and its successors all those certain pieces or parcels of ground 
situated and lying in said city of Washington, and known and distinguished on the 
plats of said City as lot lettered C and the east five feet from front to rear of lot D, 
of Samuel D. King's sub-division of lots numbered one (1), two (2), three (3), thirty 
two and thirty three (33), in square numbered one hundred and twenty six (126) 
duly recorded in surveyor's office of said City, beginning for the said parcels at a 
point on I Street north, distance seventy-eight (78) feet west from the corner of I 
and 17th Street, and running thence north parallel with 17th Street one hundred 
and five feet to a fifteen foot alley; thence west with said alley thirty-five (35) feet; 
thence south one hundred and five (105) feet to the north line of said I Street; thence 
east with said I Street thirty-five (35) feet to the point of beginning, together with 
all and singular the improvements, rights, privileges and appurtenances to the same 
belonging, in trust for the purposes following, and for no other purposes whatever — that 
is, in trust to create an endowment to be known as the Admiral Powell endowment, and 
with that view to take the said property, and the same to rent from year to year or to 
lease for a term of years as to the trustees and overseers of said University shall seem 
best; and the rents, issues, and profits arising therefrom, after first paying out of 
the same the taxes, insurance, repairs, and other expenses, to devote as far as the 
same will go, under such regulations as to the said trustees and overseers may seem 
best, to the free education of such young men that may desire to take advantage of 
the said endowment by way of their preparation for entrance into the Naval Academy 
at Annapolis, Md., or such as may fit them to become mates and masters in the Mer- 
chant Marine Service of the United States, such preparations should be confined 
in the case of each young man so embracing the advantages of the said endowment 
to one year, and to include principally the studies following — that is to say, arith- 
metic, geometry, trigonometry, and astronomy, with the use of astronomical instru- 
ments, the construction of charts, and the application of this knowledge to hydro- 
graphical survey by latitude and longitude, and if possible such study as will give 



26 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

to such young men a knowledge of Scientific voyages of discovery, and other matters 
relating to war and commerce on the high seas and it is further my desire that this 
endowment shall if possible, embrace in its benefits such apprentices as having 
filled their time in the great manufactory establishment of the country may apply 
for appointment from civil life in the steam engineer department of the United States 
Navy, to such I would like to have a years education afforded under such regula- 
tions as the President and Faculty of the University may think proper. And should 
it any time for any reason be impossible to carry into effect the trusts provisions, 
and conditions having relation to and herein imposed upon this bequest by me made 
for the creation of the endowment described on the part of said Columbian Uni- 
versity, or should it be made manifest at any time that the said trust is not being 
administered in accordance with niy wishes and desires, and in conformity with the 
conditions specified then and in such case it is my will and desire that the said 
endowment shall be placed in other hands, and to that end and on behalf of the con- 
tingency mentioned, I do hereby give, devise and bequeath the said property to 
the John's Hopkins University of Baltimore, in the State of Maryland, and its suc- 
cessors, to be taken and held by the said University or the officers thereof proper 
for that purpose, upon the trust and for the purposes hereinbefore particularly set 
forth in the bequest of said property to the Columbian University, in such a manner 
that the purposes of the said endowment as by me indicated may be fully carried 
into effect. 

In Trustees' Records (vol. 4, p. 146, Jan. 13, 1886) it appears 
that the president reported: 

The property bequeathed to the university by the late Admiral Levin M. Powell 
has at length come into the possession of the university. 

In Trustees' Records (vol. 4, p. 157, annual meeting of the corpora- 
tion, June 14, 1886) the follo\ving appears in the report of the 
trustees : 

The valuable house and lot devised to the university by the late Admiral Powell 
have come into our possession, and, having been judiciously rented, the net proceeds 
of the rental will be applicable to the establishment of a certain number of free scholar- 
ships, for the benefit of the students, preparing for admission into the Naval Academy 
at Annapolis, or for entrance into the Mercantile Marine Service. The scholarships 
will be available for the former in the preparatory school and for the latter in either 
the preparatory school or the college. 

This devise in Admiral Powell's will has on two occasions been the 
subject of litigation. In the first proceeding the court of appeals of 
the District of Columbia, in the case of Columbian University v. Taylor 
(25 App. D. C, 124), held that the trust was not void for uncertainty 
or incapacity of execution apparent upon its face. 

In the case of Ta^dor et al. v. Columbian University et al. (reported 
in the 38 Washington Law Reporter, p. 299), the court of appeals of 
the District of Columbia held that the heirs at law of Admiral Powell 
were not entitled to have the property revert to them for the reason 
that the testimony seemed to be sufficient to show that the trust can 
be executed, as well as that in some measure it is being executed, and 
that in case of the failure of the Columbian University to execute 
the trust the same passes to the Johns Hopkins University and not 
to the heirs at law. 

The court in its decision says: 

It appears from the testimony that beginning with the year after the probate of the 
will in A. D. 1885, the Columbian University published in its catalooiuethat under the 
Admiral Powell endowment free scholarships would be given to a limited number of 
pupils who would prepare for admission to the United States Naval Academy. Sub- 
sequent catalogues, from year to year, set out the terms of the trust in greater detail, 
and set out the courses of instruction indicated in the trust. It was shown that between 
1891 and the date of taking testimony, 24 youths had been admitted to free scholar- 
ships under said endowment, some of these continuing for more than one term. At 
least two of these passed into the Naval Academy. 



riNAliJ'CIAIi CONDITION OF GEORGE WASHINGTON UNIVERSITY. 



27 



While this testimony does not show with certainty that the expectations of the 
testator have been fully answered, and is particularly defective in that it fails to show 
that the entire net proceeds of the trust property have been devoted exclusively to 
the purposes of the trust and none other, it seems to be suflBcient to show that the 
trust can be executed, as well as that, in some measure it is being executed. Whether 
the trust could be better performed is not the question; nor would it avail the ap- 
pellants if it were not being performed at all by the first taker, for the trust can not 
revert to them in such event. In case of the failtu-e of the first taker, the trust passes 
to the Johns Hopkins University, whose answer, as we have seen, states its willing- 
ness, readiness, and ability to accept and execute the trust whenever it may be entitled 
or called upon to do so. There is no testimony tending to contradict this averment of 
the answer, and it must be taken as true. 

The following statement shows the net income from the house and 
the application of the same: 



Rent received during the fiscal year ending May 31- 

1886 

1887 



1889. 
1890. 
1891. 
1892. 
1893. 
1894. 
1895. 
1896. 
1897. 
1898. 
1899. 



1901. 



Rent received during the 8 months ending Aug. 31, 1902. 
Rent received during the fiscal year ending Aug. 31 — 
1903 



1904. 
1905. 
1906. 
1907. 
1908. 
1909. 



Rent received during current fiscal year up to Aug. 15, 1910. 



DISBURSEMENTS. 



Rent received during the 7 months ending Dec. 31, 1899 1 

Rent received during the fiscal year ending Dec. 31— 

1900 1 



$100. 00 
100. 00 
200. 00 
200. 00 
200. 00 
200. 00 
848. 33 
140. 00 
375. 00 
200. 00 
800. 00 
800. 00 
800. 00 
800. 00 
050. 00 

800. 00 
800. 00 
200. 00 

800. 00 
100. 00 
800. 00 
500. 00 
800. 00 
050. 00 
100. 00 
925. 00 



38, 688. 33 



Expenses fiscal year ending May 31 — 

1886 1439.18 

1887 413. 88 



359.93 

259.36 

522. 84 

382.10 

490.72 

795. 19 

357.88 

1,122.61 

448. 23 

212.18 

1898 1,033.32 

1899 466.17 

Expenses for 7 months ending Dec. 31, 1899 296.49 



1888. 
1889- 
1890. 
1891. 
1892. 
1893. 
1894- 
1895- 
1896- 
1897. 



28 



FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 



Expenses for fiscal year ending Dec. 31 — 

1900 $257. 37 

1901 488. 04 

Expenses for 8 months ending Aug. 31, 1902 154. 20 

Expenses for fiscal year ending Aug. 31 — 

1903 409. 27 

1904 748. 85 

1905 712.80 

190G 294.85 

1907 838. 59 

1908 954.73 

1909 879.70 

Expenses during current fiscal year up to July 31, 1910 555. 30 

13,893.78 

Balance in bank to credit of endowment income 425. 05 

Transfer to various departments of the university as per schedule annexed. 24, 369. 50 



38, 688. 33 



Fiscal year ending — 



Net in- 
come. 



Applied to 
general 
fund. 



Applied to 
academic 
depart- 
ment (or 
college). 



Applied to 
Corcoran 
Scientific 
School. 



Prepara- 
tory school, 
academic 
depart- 
ment. 



May 31, 1887 (2 years) 

May 31, 1888 

May 31, 1889 

May 31, 1890 

May 31, 1891 

May31,1892 

May 31. 1893 

May 31, 1894 

May 31, 1895 

May 31, 1896 

May31, 1897 

May 31, 1898 

May 31, 1899 

Dec. 31, 1899 (7 months) 

Dec. 31,1900 

Dec. 31, 1901 

Aug. 31, 1902 (8 months) 

Aug. 31.1903 

Aug. 31,1904 

Aug. 31, 1905 

Aug. 31,1906 

Aug. .31, 1907 

Aug. 31, 1908 

Aug. 31. 1909 

Fiscal year up to July 31, 1909 . 



Xiess cost of perpetual insurance paid out 
of general fund May 6, 1905 



liess balance in bank to credit of endow- 
ment income account 



S346. 94 
840. 07 
940. 64 
677. 16 
817. 90 
357. 61 
344. 81 

,017.12 
77.39 

,351.77 

, 587. 82 
766. 68 

,333.83 
7.53. 51 
542. 63 
311.96 
045. 80 
390. 73 
351.15 
087. 20 
205. 15 
961. 41 
095. 27 
220. 30 
369. 70 



24,794.55 

425.05 

24, 369. 50 



8940. 64 
677. 16 
817. 90 



766. 68 

1, 333. 83 

753. 51 



5,289.72 
150. 00 



$346.94 
840. 07 



771.32 

655. 98 

522. 90 

1,390.73 

1, 095. 50 

1,400.00 

698. 00 

1,561.41 

1,095.27 

1, 220. 30 

944. 65 



S357. 61 
344.81 
1,017.12 
77.39 
1,351.77 
1,587.82 



$771.31 
655. 98 
522. 90 



5, 139. 72 



12,543.07 



1,950.19 



4,736.52 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 



29* 



As against the $24,369.50 of income transferred, to the various 
departments of the university, credit should be allowed for tuition 
of students who have been awarded Powell scholarships. 



student. 



Scholastic 
year. 



Department. 



Amount. 



Edmund Broaddus 

Daniel Brown Kerfoot 

William Plummer Copeland . 

Oliver C. Minunack 

Frederick F. McElhone 

Archibald Stine 

Paul E. Taussig 

Reginald S. Davis 

George Emery Green 

Dunlop Owens 

Charles R. Schmidt 

J. William Beatty 

William D. Owens 

Carroll T. Fugit 

R. Harlan 

Selma Mason 

Frederick V. McNair, jr 

Beimett L. Porter 

William J. G. Thomas 

John Wignall 

E. McK. Chace 

E. L. Weer 

August Rudolf 



Ferdinand Brandes 

Fabian Peter Noel 

Ralph Earle Sampson. .. 
Thomas Louis Shannon. 
Howard R. Gary 



1890-91 
'1891-92' 



1892-93 
1893-94 



1894-95 



1895-96 
1896-97 
1897-98 
1899-1900 
1905-6 



1906-7 
1908-9 



Leaving an unexpended balance of 
income to be accounted for by 
the university amoimting to 



Preparatory school 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

do 

Corcoran Scientific School. 
do 



/Columbian College. 
\Law lectures 

Columbian College. 

Engineering 

do 

do 



$80. oa 

80. 0& 
80.00 
80.00 
40. 00- 
80.00 
80.00 
80.00 
80.00 
80.00 
80. 00 
40. 00 
80.00 
80. 00 
80.00 
80.00 
80.00 
80.00 
80.00 
80.00 
50. 00 
100. 00 



110. 00 
22.50 
95.00 
42.60 
67.50 
90. 00 



2, 097. 50 



22,272.00 



24,369.5a 



MARY LOWELL STONE SCHOLARSHIP FUND. 



10, 1893) it appears that 



In Trustees' Records (vol. 4, p. 511, Oct. 
President Welling reported: 

On behalf of Prof. Munroe, dean of the Corcoran Scientific School, I have to report 
for your acceptance the proffer of $2,000, to be given to the Corcoran Scientific School 
subject to the following conditions, to wit: 

That the money be safely invested and be called the Mary Lowell Stone scholar- 
ship fund. 

That the income of said endowment be paid to needy women students in the Cor- 
coran Scientific School at the discretion of dean of said school. The donor of the 
endowment further expresses a wish, for reasons unknown to me, that the name of the 
woman attached to the scholarship shall not appear until printed in the next uni- 
versity catalogue. 

On page 513 of same volume appears the following: 

The donation to the endowment fund of $2,000, to be known as the Mary Lowell 
Stone scholarship fund, with the conditions prescribed by the donor, was, on motion 
of Dr. Gallaudet, accepted by the trustees and the proper ofiicers of the corporation 
directed to communicate the action of the board, through Dean Munroe, to the un- 
known friend of the university. 



30 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

The records of the executive committee (vol. B, p. 37) show the 
receipt on March 4, 1903, of the following communication from the 
donor changing the conditions of the fund, which was approved : 

February 7, 1903. 

Dear Dr. Mctnroe: As donor of the Mary Lowell Stone scholarship to the Corcoran 
Scientific School of the Columbian University, now that it has been decided to abol- 
ish said school, I desire the following concerning said scholarship: 

That the $2,000 which I paid to the Columbian University October 25, 1893, be 
kept safely invested and called the Mary Lowell Stone scholarship fund . 

That the income of said fund be paid by the president's council of the Columbian 
University to needy women students of science in the department of arts and sciences. 

That my name as donor of said fund is not to appear in connection with said fund, 
founded as a memorial to a woman student of science by a woman. 

The check received for this fund was embezzled by the then treas- 
urer of the university, Robert H. Martin. 

About this time Martin sold $2,000 of District of Columbia 3.65 
bonds belonging to the miscellaneous investments of the university, 
and mingled the proceeds of such sale with the proceeds of the sale 
of certain securities belonging to the Corcoran endowment fund and 
other trust funds in the purchase of certain notes secured by trust 
deeds. 

In his next annual report (for the year ending May 31, 1894) he 
states that the Mary Lowell Stone scholarship fund is invested in a 
note of John MacGregor, which is one of the notes so purchased. 

In 1897 it was discovered that Treasurer Martin was a defaulter, 
and he confessed to the embezzlement of the $2, 000. of this fimd and 
of S2,000 of the Corcoran endowment fund. 

Settlement was made with his bondsmen by accepting from them 
the sum of S4,000, and they were released. Subsequently it devel- 
oped that the embezzlement was much larger, but no further sums 
were recovered from Martin or his bondsmen. 

The $4,000 paid by the bondsmen was put in the general fund, and 
the $2,000 investment in the MacGregor note, which really repre- 
sented the proceeds of the sale of miscellaneous investments of the 
university, was allowed to stand to the credit of the Mary Lowell 
Stone scholarship fund. 

As these miscellaneous investments were, so far as is known, the 
property of the general fund, and the money paid by the bondsmen 
to reimburse this particular embezzlement was put in the general 
fund, no objection can be seen to treating the MacGregor note as an 
investment of the Mary Lowell Ston^ fund. 

The MacGregor note was paid off April 28, 1899, with interest in 
fidl to June 29, and the proceeds, $2,000, were invested in a note of 
J. B. Wimer, dated May 1, 1899. 

The Wimer note was paid April 11, 1902, and the $2,000 proceeds 
were invested in two notes of Irving M. Crocker for $1,000 each. 

These Crocker notes were merged with other securities into "Invest- 
ment A" account, which included a number of small endowments. 

The Crocker notes were paid December 21, 1908, and proceeds 
deposited in trust fund account in Washington Loan & Trust Co. 
On March 23, 1909, the $2,000 was withdrawn from this account and 
transferred to the general fund. 



FIITANCIALi CONDITIOlsr OF GEORGE WASHINGTON UNIVEESITY. 



31 



The following summary will show the condition of the fund: 

RECEIPTS. 

Received through Dean Munroe, of the Corcoran Scientific School, for Mary- 
Lowell Stone scholarship fund, Oct. 25, 1893 |2, 000. 00 ' 

Interest on MacGregor note from Oct. 25, 1893, to June 29, 1899 681. 33 

Interest on Wimer note from May 1, 1899, to Apr. 11, 1902 294. 39 

Interest on Crocker note from Apr. 12, 1902, to June 22, 1903 120. 27 

Interest on Crocker note from June 22, 1903, to June 22, 1907, credited to 

" Investment A, ' ' income account 400. 00 

Interest on Crocker note from June 22, 1907, to Dec. 16, 1908, credited to 

Corcoran endowment income 148. 33 

Interest allowed by Washington Loan & Trust Co. on deposit from Jan. 1, 

1909, to Mar. 1, 1909 6.67 

Interest due from general fund from Mar. 23, 1909, to Aug. 31, 1910 143. 89 

Total 3, 794. 88 

The records and accounts of the university show that credits have 
been allowed for ''Mary Lowell Stone scholarship" to women students 
in the Corcoran Scientific School and College of Arts and Sciences on 
account of tuition fees, as follows : 



student. 


Scholastic year. 


Amount. 




1894-95 


$100. 00 




1896-97 


100. 00 


Miss Sara West . 


1897-98 


100.00 




1898-99 


100. 00 


Mrs E M V. Triepel . . . 


1899-1900 


50.00 


Miss K. M. Raber. 


1899-1900 


50.00 


Miss A. L. Burtt 


1901-2 


100. 00 


Do 


1902-3 


100.00 


Lillie V. Keathley . . . . 


1905-6 


80.00 


Clara W. Cabell 


1906-7 


40.00 


Helen G. Gantley 


1907-8 


74.50 


Florence F. Connell 


1907-8 


45.00 




1909-10 


40.00 


Eva P. Kelly 


1909-10 


40.00 








Total 


1,019.50 









SUMMARY. 

Total receipts, as above $3,794.88 

Total credits, as above 1, 019. 50 

Balance due from general fund 2, 775. 38 

This balance is made up of: 

Principal, loaned to general fund Mar. 23, 1909 2, 000. 00 

Unexpended income, diverted to the general purposes of the imiversity 775. 38 

Total 2,775.3 

H. H. CARTER SCHOLARSHIP FUND. 



This fund consists of a gift of $5,000 by Mrs. Maria M. Carter for 
a scholarship in the engineering department in memory of her hus- 
band, the late Henry Harding Carter. 

Trustees' Eecords (vol. 5, p. 106, President's Report) contains the 
following : 

The chair in civil engineering was stimulated by gift of Mrs. Henry Harding Carter 
of $5,000. 

The check given by Mrs. Carter in February, 1896, was embezzled 
by the then treasurer of the university, Robert H. Martin. When 
the "Investment A" account was opened an attempt was made to 
restore this fund by increasing the value of the Columbian Building, 



32 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

owned by the Corcoran endowment fund, and transferring other 
assets of the Corcoran fund to the "Investment A" account, but 
there has been no restoration of the fund from the general assets of 
the University. 

DAVIS PRIZE FUND. 

Trustees' Records (vol. 2, p. 19) shows the receipt of a letter from 
Isaac Davis, dated November 13, 1847, in the following terms: 

I propose to give an amount of stock in a good bank, the semiannual dividends of 
which vnll afford three premiums in cash, or gold medals, of the value of $5, §10, and 
of $15 annually. These ];remiums or prizes to be distributed annually to such mem- 
bers of the senior class as shall have made the greatest progress in elocution since 
their connection with the college. The premiums to be awarded by the faculty for 
the time being, and to be called by such names as the trustees shall designate. 

The communication having been read it was, upon motion, resolved 
that the proposition of the Hon. Isaac Davis be accepted, and that 
the secretary be directed to inform him of its acceptance. 

The treasurer's books and reports show the receipt, from time to 
time, from Mr. Davis of various sums representing dividends on 
bank stock. Mr. Davis was president of the Quinsigamond National 
Bank, of Worcester, Mass. Reports of later years show among the 
miscellaneous investments of the university five shares of Quinsiga- 
mond National Bank stock. This bank went into liquidation and 
the university received as liquidating dividends on February 9, 1906, 
$500, and on May 1, 1906, $200. Dividends ranging from $25 to $40 
per annum appear to have been received regularly from the time the 
fund started until the liquidation of the bank. 

The certificate of stock was surrendered upon the payment of the 
final liquidating dividend. 

Mr. Charles W. Holmes, the treasurer of the university, states that 
the certificate which was so surrendered was signed by Isaac Davis 
as president and had written across its face ''Fund for Davis prizes. ' ' 
The amount of the principal of the fund is therefore fixed at $700. 

The records of the payment for prizes out of the dividends received 
on the stock are not complete, by reason of the fact that the money 
received from Mr. Davis was for a number of yea,rs credited into the 
general fund and the total amount paid for all medals each year is 
included in one entry in the cashbook, without designating the num- 
ber or the value of the medals awarded. 

It appears to have been the practice to award annually Davis 
prizes of a total value of $30; and the recipients have been given the 
choice of cash or medals of equal value. For the reason above stated 
it has been impossible to state an account of the income received and 
the expenditures for prizes. 

The $700 received as liquidating dividends on the Quinsigamond 
National Bank stock was mingled with moneys belonging to the 
National Park Seminary fund, the Corcoran endowment fund, the 
B. S. and E. fund, the Kendall fund, and the Elton professorship fund 
in the purchase of Rock Island refunding bonds and in the invest- 
ment in the $16,000 Needham mortgage. 

There are now held $24,000 Chicago, Rock Island & Pacific refund- 
ing 4 per cent bonds — 

Which cost $20, 959. 17 

And the Needham mortgage 16, 000. 00 

Total 36, 959. 17 



FIISTAISrCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 33 

The $700 belonging to this fund, being a part of the money put into 
these investments, this fund is entitled to its proportionate share of 
the principal and income thereof. 

STAUGHTON PRIZE FUND ELTON PRIZE FUND. 

[Trustees' Records (vol. 3, p. 8, Jan. 11, I860).] 

A communication from E. Elton, Exeter, England, proposing to 
contribute $100 toward founding a scholarship to be known as the 
Staughton scholarship, and $100 for a Luther Rice scholarship was 
read by the president and approved. The thanks of the board were 
directed to be communicated to the donor, and the money was directed 
to be appropriated as designated by him. 

[Trustees' Records (vol. 3, p. 20, June 26, 1860), extract from president's report.] 

The faculty would, in closing, mention amongst generous donations to the college 
that of a sum of $250 from the Rev. R. Elton, D. D., of Exeter, England, to found prizes 
for excellence in classical learning. 

[Trustees' Records (vol. 3, p. 22, June 26, I860).] 

The president of the college presented the following extract from a 
letter from Rev. R. Elton, D. D., of Exeter, England: 

I am gratified that my proposal meets the approbation of the board of trustees of 
Columbian College, and would thank you to carry to the trustees my thanks for the 
vote they have passed. I now inclose a bill of exchange for $250 to found a prize for 
the encouragement of classical literature in the Columbian College, to be called the 
Staughton prize, in honor of the Rev. Wm. Staughton, D. D., the first president of the 
Columbian College. I wish the premium to be given to the best Greek and Latin 
scholar of the junior or senior class who sustains an unblemished character. 

If the competitors by examination do not prove themselves to have attained dis- 
tinguished excellence in classical training, I desire that the interest for that year be 
added to the original fund, Such rules and modifications, however, as may be thought 
desirable I leave to your discretion and the board of trustees. 

This communication was referred to a committee, who on June 27, 
1860 (vol. 3, p. 24), reported the following resolution, which was 
adopted: 

Resolved, That the board of trustees highly appreciate the liberality of Rev. R. 
Elton, D. D., in contributing the sum of $250 to constitute a permanent fund for prize 
medals to be given for excellence in the Greek and Latin languages, and pledge our- 
selves to carry out his suggestions in awarding the prizes. 

[Trustees' Records (Jan. 11, 1865, vol. 3, p. 130)<] 

Mr. Samson read a portion of a private letter received by him from 
the Rev. Romeo Elton, D. D., of Exeter, England, in response to 
which the Reverend Doctor Gillette offered the following resolution: 

Resolved, That a prize be instituted in the college, to be called the 
Elton prize for Greek, and Mr, Welling offered the following pre- 
amble and resolutions, all of which were adopted by the board : 

Whereas the Rev. Dr. Romeo Elton, of Exeter, England, has offered to place at the 
disposal of this board the sum of $250 as the foundation of a prize fund for the encour- 
agement of classical study in the Columbian College; Therefore, 

Resolved, That the board hereby pledge itself to accept the sum which was so kindly 
proffered, and in the act of making this engagement desires to record its grateful sense 
of the past munificence and present liberality displayed by its generous donor in 
thus seeking to promote the cause of sound learning by holding forth to the competi- 
tion of emulous youth the badges of excellence and marks of distinction destined 
to be won and deserved only by faithful and persevering study. 

68966— H. Doc. 1060, 61-3 3 



34 FUSTANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

Resolved, That the new prize thus founded be called the Elton prize for excellence 
in the Greek language and literature. 

The prize presented by the same generous donor on a former occasion to be styled 
the Staughton prize for excellence in the Latin language and literature. 

[Trustees' Records (vol. 3, p. 144, dated June 27, 1865), extract from president's report.] 

During the year Rev. R. Elton, D. D., has proposed to increase the fund of $250 
formerly given by him as a foundation for prizes in the Latin and Greek languages to 
a fund of 1500, the income of which shall furnish two prizes, one to be called the 
Staughton prize in Latin, the other the Elton prize in Greek. 

The interest of the former fund appropriated, because during the discussion caused 
during the war there have been no competitors, has increased that fund to $300. 
The additional $200 has been recently received from Mr. Elton in a draft not yet 
matured. 

There appears to be no record whatever of the receipt by the 
treasurer of either of the sums jsjiven by Dr. Elton. 

At this time a large proportion of the moneys belonging to the 
institution were handled by the president, Dr. George W. Samson, 
without any apparent accountability to am^one, and there are no 
records of his receipts and expenditures. 

The president's reports at about this time state that he was 
expending money for the improvement of the grounds and buildings, 
and the inference is that the $500, representing these two funds, was 
used up in that manner. 

An attempt to "restore" this fund along with other small endow- 
ment prize funds was made about seven years ago, when the ' ' Invest- 
ment A" account was started. 

This was done by increasing the valuation at which the Columbian 
Building was carried in the Corcoran endowment fund and transferring 
assets belonging to the Corcoran fund to the "Investment A" 
account. 

It appears that medals have been regularly awarded annually by 
the university, but for the reason that there has been no investment 
of the fund to produce an income, and it is impracticable to ascertain 
the exact cost of medals, no attempt has been made to state an 
"income" account. The principal ($500) is due from the general 
fund. 

FUND FOR RUGGLES PRIZE IN MATHEMATICS. 

In Trustees' Records (vol. 3, p. 144), under date of. June 27, 
1865, in the president's report it appears "that during the college year 
1858-59 Prof. William Huggles acted as chairman of the faculty and 
virtual president, liis salary being but the sum of $800, to which 
it had been reduced." 

At a special meeting of the board held August 10, 1859, the following resolutions 
were unanimously passed : 

Resolved, That the board of trustees highly appreciate the energy, zeal, and success 
of the chairman of the faculty in the conduct of the college during the past year. 

Resolved, That the salary of Prof. Ruggles for the past year be the same with other 
professors ($1,200), to be paid whenever the college may find itself in funds to do so. 

Prof. Ruggles now makes the following proposition to the board: The interest 
now accruing on the $400 due him at that time, a period of six years, amounting to $144, 
making a total of $544 — Prof. Ruggles proposes that the amount be fixed at $500 and 
be set apart by the board as a permanent fund whose income shall be the foundation 
of a prize for excellence in the mathematics. 

******* 

It is suggested that his request be complied with and that the proposed fund be 
called the Ruggles prize in mathematics. 
The report of the president was adopted. 



FINAJ^CIAL CONDITION OF GEOKGE WASHINGTON UNIVERSITY. 35 

It does not appear that any attempt was ever made to make any 
investment to represent the principal of this fund, and the amount 
is still due from the general fund. 

Medals appear to have been regularly awarded annually by the 
university; but for the reason that there has been no investment of 
the fund to produce an income, and it is impracticable to ascertain 
the exact cost of medals, no attempt has been made to state an 
^'income" account. 

WILLIE E. FITCH PRIZE FUND. 

It appears in Trustees' Records (vol. 4, p. 62, Sept. 19, 1883) that 
the president reported: 

I am authorized by Mr. James E. Fitch to announce that he will give to the corpo- 
ration 11,000 to found a gold medal which shall be known as the Willie E. Fitch medal, 
the cost of which shall be defrayed from the annual interest of that sum, as invested 
by the corporation, and the said medal to be assigned, under the auspices of the pro- 
jected scientific school, on terms and conditions to be hereafter concerted. 

On motion of Mr. Mattingly, the gift was accepted. 

The treasurer's report for the year ending May 31, 1884, shows the 
Fitch fund to have been invested in a note of Wilbur F. Nash for 
$1,000 with interest at 5 per cent, dated December 5, 1883. 

Interest on this note from December 5, 1883, to December 5, 1888, 
amounting to $250, appears to have been put into the general fund. 
The amounts expended during this period for prizes and medals is 
not set out in detail and the only information available is that con- 
tained in the treasurer's report for the year ending May 31, 1890, 
which purports to show that $175 was restored to this fund by the 
general fund as an unexpended balance. From the accumulations 
of income $100 was afterwards invested in a debenture bond of the 
American Security & Trust Co. and $100 in a bond of the Cosmos 
Club. 

The Nash note of $1,000 was paid March 11, 1892, and the two 
$100 bonds were sold April 30, 1892, and on that day $1,200 was 
invested in a note of J. W. McLachlen, trustee, secured by trust deed. 

This note was afterwards merged into ''Investment A" account, 
which included a number of small endowments. 

On May 4, 1904, the McLachlen note was paid, and on May 12, 1904, 
$1,000 of the proceeds was invested in note of the Sisters of Visita- 
tion; and on February 14, 1905, the $200 balance was invested in four 
shares of the Pennsylvania Telephone Co. stock, which is now repre- 
sented by two shares of American Telegraph & Telephone Co. stock 
received in exchange. At the time of the exchange of stock $36 was 
paid out of the general fund to equalize values. 

The note of the Sisters of Visitation was paid November 7, 1906, 
and the proceeds reinvested in note of Jesse C. Love, secured by deed 
of trust. 

The Love note was sold May 11, 1908, and on August 31, 1908, the 
proceeds, $1,000, were loaned to general fund. 



36 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

The following account will show the condition of the fund : 

RECEIPTS. 

Received from James E. Fitch $1, 000. 00 

Refunded from general fund unexpended income May 31, 1890 175. 00 

Interest on Nash note from Dec. 5, 1888, to Mar. 11, 1892 138. 20 

Interest on Cosmos Club bond, 2 years 10. 00 

Interest on A. S. & T. bond 7. 50 

Premium on Cosmos Club bond 2. 00 

Premium on A. S. & T. bond 1.25 

Interest on McLachlen note to Sept. 26, 1902 778. 40 

Interest on bank balance to Dec. 19, 1903 33.53 

Interest on McLachlen note to Apr. 28, 1904 (credited to "Investment A" 

income account) 42. 60 

Interest on Sisters of Visitation note from May 12, 1904, to Nov. 6, 1906 

(credited to "Investment A" income account) 111. 46 

Interest on Love note from Nov. 3, 1906, to May 3, 1907 (credited to "Invest- 
ment A " income account) 25. 00 

Interest on Love note from May 3, 1907, to May 11, 1908 (credited to Cor- 
coran endowment income account ,^ 51. 11 

Interest on bank balance 1. 66 

Dividend on telephone stock (credited to ' ' Investment A " income account) . 41. 70 

Interest on $1,000 due from general fund from Aug. 31, 1908, to Aug. 31, 1910. 100. 00 
Interest on 1389.88 transferred to general fund from Sept. 19, 1903, to Aug. 

31,1910 135.42 

Total 2,654.83 

EXPENDITURES. 

June 11, 1890, paid Marcus White chemistry prize $50. 00 

May 31, 1892, paid chemistry prize as per treasurer's report 65. 00 

May 31, 1893, paid chemistry prize to O. J. Snyder 65. 00 

May 31, 1894, paid chemistry prize to C. B. Phelps 60. 00 

May 31, 1897, interest transferred to general fund 144. 00 

May 31, 1898, interest transferred to general fund 72. 00 

From these two transfers of interest to general fund totaling $216, 
the following amounts were paid by the general fund : 

For Fitch prize to C. R. Ely $150. 00 

For Fitch prize to A. I. Doyle 50. 00 

200.00 

Dec. 31, 1901, prize awarded to A. B. Adams 50.00 

Dec. 31, 1901, prize awarded to M. F. Hopkins 50. 00 

Sept. 19, 1903, transferred to general fund 389. 88 

1903, prize awarded to W. 0. Snelling 50. 00 

Feb. 14, 1905, paid for 4 shares Pennsylvania Telephone Co. stock 200. 00 

1907, prize awarded to Clarence P. Wilson 50. 00 

1908, prize awarded to S. S. Sherwood 50. 00 

Dec. 31, 1908, loaned to general fund 1,000.00 

1909, prize awarded to A. V. Fuller 50. 00 

1909, cash paid on account of exchange of telephone stock 36. 00 

2, 381. 88 

Balance of unexpended income due from general fund 272. 95 

2, 654. 83 

SUMMARY. 

Receipts. 

Received principal of the fund $1, 000. 00 

Received premium on bonds sold 3. 25 

Received interest on investments 1, 416. 16 

Amount due from general fund (interest) 235. 42 

2, 654. 83 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 37 

Expenditures. 

Paid for prizes $740. 00 

Transfer to general fund 1, 405. 88 

Unexpended income due from general fund from Sept. 19, 1903, to Aug. 31, 

1910 272.95 

€ost of telephone stock 236. 00 

2, 654. 83 
E. K. CUTTER PRIZE FUND. 

By the will of the late Marion Kendall Cutter, dated July 25, 1899, a 
bequest of SI, 000 was made to the university in the following terms: 

I give and bequeath unto the Columbian University the sum of one thousand dollars, 
to be by said university invested, the income therefrom to be applied for the purchase 
of an annual prize for excellence in the study of English (presumably in the gradua- 
tion class each current year) said prize to be known as the E. K. Cutter prize. 

On July 12, 1901, the American Security & Trust Co., executors 
of the will of Marion Kendall Cutter, filed a petition to have the will re- 
leased from probate, in accordance with an agreement among the heirs. 

The petition recited that the executors were prepared to pay over 
the $1,000 legacy to the Columbian University. The court granted 
the prayer of the petition in an order made August 26, 1901. 

On April 17, 1902, the American Security & Trust Co., executors 
of the will of Mrs. Cutter, paid over to the university the amount of 
the legacy, SI, 000, and on April 24, 1902, this money was invested 
in 100 shares of the Washington Sanitary Improvement Co. This 
stock is still held but is carried on the records of the university as part 
of the assets of what is known as ''Investment A" account, which 
includes the investment of this and a number of other small funds. 

There was received for account of dividends from this stock to 
September 30, 1902, the sum of $20.14, and since that date regular 
semiannual 2h per cent dividends of S2o each. 

Out of the income received there have been awarded eight prizes of 
$40 each. The following statement shows the condition of the fund: 

Amount received from the estate of Mrs. Cutter $1, 000. 00 

Dividends received during — 

1902 ^ 20. 14 

1903 50. 00 

1904 50. 00 

1905 50. 00 

1906 50. 00 

1907 50.00 

1908 50. 00 

1909 50. 00 

1910 25. 00 





1. 395. 14 


Amount paid for 100 shares of Washington Sanitary Improvement Co. stock. 
■Cash prize awarded in — 

1903 


1, 000. 00 
40.00 


1904 


40.00 


1905 


40.00 


1906 . . . 


40.00 


1907 


40.00 


1908 


40.00 


1909 


40.00 


1910 


40.00 


Balance due from general fund 


75. 14 



1, 395. 14 



38 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 
THOMAS F. WALSH PRIZE FUND. 

In the year 1901 Thomas F. Walsh donated the sum of S300 as 
principal of a fund for founding a gold medal in "Irish History" to 
be awarded annually. 

This sum was invested by S. W. Woodward, the then treasurer 
of the university, in 30 shares of the Washington Sanitary Improve- 
ment Co. There have been received as dividends on this stock up 
to July 1, 1910, the sum of $126.58. 

No part of this income has been expended. Mr. Walsh in his life- 
time paid the cost of the medal each year. The medal awarded in 
1910 was paid for by his estate. 

The 30 shares of Washington Sanitary Improvement Co. stock 
are still owned and carried in "Investment A" account. The income, 
$126.58, has been carried into the general fund and the general fimd 
should restore that amount to the Thomas F. Walsh prize fund. 

ORDRONAUX PRIZE FUND. 

The late Dr. John Ordronaux, by his last will, dated April 15, 1907, 
provided as follows: 

Clause 13. I give and bequeath to the trustees of the George Washington University 
in the city of Washington, D. C, the sum of five thousand dollars for the establish- 
ment of biennial prizes in its law and medical departments severally, and at such 
times and in such amounts as may seem best to the trustees. 

On April 1, 1909, the executors of the will of Dr. Ordronaux paid 
to the university the sum of $4,762.50, being the amount of the legacy 
less transfer or inheritance tax. 

This money was deposited in Washington Loan & Trust Co., and 
on August 30, 1909, a check for the amount of the legacy, together 
with $30.47 interest allowed by the trust company ($4,792.97), was 
sent to the National City Bank, New York, to purchase investment 
bonds. They purchased $5,000 Chicago, Rock Island & Pacific col- 
lateral trust 4 per cent bonds — 

At79| $3,993.75 

And accrued interest May 1 to Sept. 2 67. 22 

4, 060. 97 

And returned to the university the sum of $732, which amount was 
turned into the general fund and used for current expenses. The 
following statement will show the condition of the fund : 

Cash received from executors of Dr. Ordronaux $4, 762. 50 

Interest allowed by Washington Loan & Trust Co 30. 47 

Interest on bonds due Nov. 1, 1909 100. 00 

Interest on bonds due May 1, 1910 100. 00 

4, 992. 97 
Less amount paid for bonds 4, 060. 97 

Balance due from general fund to this fund 932. 00 

No prizes have been awarded. 



FINANCIAL CONDITIOOSr OF GEOEGE WASHINGTON UNIVERSITY. 39 

ALUMNI HALL FUND. 

In 1905 the alumni association of the university started to raise a 
fund for the erection of what was to be called Alumni Hall, and to be 
one of a group of buildings on the Van Ness Park site which had been 
purchased by the university. 

The subscription cards signed by members of the Alumni Asso- 
ciation were in the following form : 

ALUMNI ASSOCIATION — THE GEORGE WASHINGTON UNIVERSITY. 

I hereby subscribe to the fund for building an alumni hall for The George Washing- 
ton University the sum of dollars, and agree to pay that sum within five years, 

as follows: •. 

• (Signature) . 

(Address) . 

(Date) . 

The building which it was proposed to erect was intended to be 
conducted as a club for professors, students, resident, and visiting 
alumni, with dining room for the use of students in dormitories. 

The cost of the building and furnishings was estimated at $150,000. 

The total amount shown by the treasurer's accounts as having been re- 
ceived from subscribers is |4, 087. 00 

Received from general fund, interest on |3,500 loan, from Apr. 1, 1907, to 
May 18, 1907 9. 32 

Received from bank for interest on deposit 254. 62 

Total receipts 4, 350. 94 

Less cash paid B. S. Adams Feb. 5, 1905 (printing) 15. 08 

Net amount of fund 4, 335. 86 

Accrued interest due from general fund 166. 50 

4, 502. 36 

From this fund loans have been made to the general fund as 
follows : 

On April 1, 1907, $3,500. Tliis loan was repaid on May 18, 1907, 
together with $9.32 interest. 

On December 1, 1908, $2,000. This loan was repaid December 4, 

1908. (No interest paid.) 

On November 6, 1909, $4,200. This loan was paid November 29, 

1909. (No interest paid.) 

On November 30, 1909, $4,200. This loan was paid Decem- 
ber 23, 1909. (No interest paid.) 

On January 3, 1910, $4,200. This loan is still unpaid. 

Of the total amount of the fund as above, $4,335.86, there is on 
deposit in the American Security & Trust Co. to the credit of 
this fund the sum of $135.86 and there is due from the general fund 
the sum of $4,200, the amount borrowed January 3, 1910, together 
with interest on the several loans as above. This interest has 
been calculated at the rate of 5 per cent to the end of the current 
fiscal year, August 31, 1910. 

Van Ness Park, the proposed site of Alumni Hall, was sold to the 
Government in 1907, and no other site was purchased, and further 
efforts to complete the fund are being held in abeyance until a new 
site is selected. 



40 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

The amount of this fund as above ascertained is made up as follows : 

Cash in bank |135. 86 

Due from general fund : 

Loanof Jan. 3, 1910 $4,200.00 

Interest on same from Jan. 3, 1910, to Aug. 31, 1910 138. 83 

Interest on $2,000 from Dec. 1, 1908, to Dec. 4, 1908 .83 

Interest on $4,200 from Nov. 6, 1909, to Nov. 29, 1909 13. 42 

Interest on $4,200 from Nov. 30, 1909, to Dec. 23, 1909 13. 42 

4, 366. 50 

4, 502. 36 
CORCORAN ENDOAVMENT FUND. 

The first steps toward the raising of tliis fund were taken at a meet- 
ing of the board of trustees, September 18, 1872 (Trustees' Records, 
vol. 3, p. 341), when ''the suggestion of President Welling to call a 
meeting of the corporation to consider the subject of endowment was, 
on motion, approved." 

At a special meeting of the corporation held October 7, 1872, to 
consider the subject of raising a permanent endowment fund for the 
college, the following resolutions were adopted: 

Resolved, That an effort be made under the authority of the board of trustees and 
overseers of Columbian College in the District of Columbia to increase the permanent 
endowment of that institution by raising the sum of $250,000. 

Resolved, That the executive committee of the board of trustees be authorized to 
appoint an agent or agents, at such rate of compensation as the said committee may 
deem right and proper, to canvass the cities of Washington, Georgetown, and Balti- 
more in furtherance of this object, and also to bring the claims of the college to the 
notice of the churches and friends in Maryland and elsewhere which may be pre- 
sumed to be interested in its welfare. 

Resolved, That the president of the faculty be authorized to bring the advantages 
and claims of the college to the notice of distinguished friends of liberal learning in 
the United States in promotion of the foregoing object. 

Resolved, That all moneys collected in pursuance of this effort shall be invested 
under the direction of the corporation and shall constitute a permanent fund of 
which the interest alone shall be applied for the purposes of the college. 

The board of trustees having previously, on September 25, 1871, 
appointed a committee to wait upon W. W. Corcoran, the then 
president of the board, ''to inform him that we should be glad to 
confer with him in regard to such a plan as he may deem wise and 
expedient for converting the Columbian College into a national 
university bearing his name," Mr. Corcoran, on September 30, 1871, 
acknowledged the receipt of the resolutions and suggested the name 
"The Columbian University" rather than his own name. (See 
Trustees' Records, vol. 3, p. 343.) 

On December 18, 1872 (Trustees' Records, vol. 3, p. 345), after 
Dr. Welling had presented a communication setting forth the needs 
of the college, which was ordered to be printed and sent to each 
member of the corporation, the following resolution was adopted. 

Whereas our friend and esteemed president, Mr. W. W. Corcoran, has proposed to 
make to the Columbian College a donation of a very valuable tract of land, called 
"Trinidad," adjoining the limits of the city of Washington; and 

WTiereas on account of the educational enterprise of the age and the peculiar cir- 
cumstances of our college, this haa been a most timely as well as a most noble benefi- 
cence: Therefore 

Be it resolved, That we, trustees of the college, do hereby express our sense and 
appreciation of this generous act, and do hereby tender to our esteemed friend and 
president our heartfelt thanks for this kindness and our earnest wishes for his happi- 
ness both here and hereafter. 



niSrANOIAIj CONDITIOE" OF GEOEGE WASHUNrGTON UNIVERSITY. 41 

At a special meeting of the corporation held on January 27, 1873 
(Trustees' Records, vol. 3, p. 347), the following communication 
from Mr. Corcoran was read : 

Washington, January 11, 1873. 

William Stickney, Esq., 

Secretary and Treasurer Trustees of the Columbian College. 

Dear Sir: The report of the president of the college, made to the trustees on the 
18th December last and printed for the use of members of the corporation, but not 
published, seems to make the following explanation necessary in order to prevent 
any misundertanding touching my proposition to donate Trinidad in furtherance of 
my design to place the college on a higher and more permanent footing. 

About two months before the meeting of the 18th December I first announced to 
Dr. Welling my intention, in view of the previous proposition of the trustees to raise 
the sum of |250,000, to aid in the permanent endowment of the college and its eleva- 
tion to the dignity and usefulness of a university by donating Trinidad on certain 
conditions then expressed, to the effect that there was to be no relaxation of effort on 
the part of the friends of the college to obtain the $250,000 which the board of trustees 
and overseers had previously resolved to raise for the permanent endowment of the 
institution, that the principal of the donation when realized should be funded and 
be kept forever intact, the interest alone being applied to the support of the college, 
and that Dr. Welling should pledge himself to remain in his present position in order 
that I might be assured that he would give his personal attention to the administra- 
tion of the trust. 

It was distinctly understood between Dr. Welling and myself that there was to be 
RO relaxation (because of the promised donation) in the effort to increase the perrna- 
nent endowment of the college at the earliest possible day, and it was in this faith 
that I consented, at his solicitation, that Dr. Welling should publish my purpose, 
and it was partly in this faith that he pledged himself to remain at the head of the 
college. 

In view of these facts and considerations I have provided that if the sum of not 
less than $100,000 of the $250,000 proposed to be raised be obtained in cash by the 
college authorities on or before the 1st day of January, 1875, for the purpose indicated, 
and Dr. Welling shall remain in his present position, my purpose shall be carried out, 
but if the said sum of not less than $100,000 be not raised and received as aforesaid 
by the day named, or if Dr. Welling shall cease to be the president of the college from 
any cause except death, then, in either or both of said events, the donation will fail 
and the property will be otherwise disposed of. 

These are the terms and conditions of my offer as fully understood between Dr. 
Welling and myself, and by him, I believe, reported to the trustees, and which I will 
take pleasure in carrying out. 

Very truly, yours, W. W. Corcoran. 

Immediately after reading this communication resolutions were 
adopted authorizing the trustees to take steps toward changing the 
name of the corporation to the Columbian University; and also 
authorizing the trustees to provide a course of instruction in such 
branches of learning as are related to agriculture and the mechanic 
arts, and to petition Congress for a grant of land in aid of such 
course of instruction. 

The following resolutions were also adopted: 

Resolved, That the trustees be authorized with the income of the proposed bene- 
faction of our honored president, and of other contributions made or to be made by 
the friends of the college, to establish, in connection with and as part of the college, 
a school to be called the "Corcoran School of Science and Art," and to prescribe a 
suitable course of instruction and discipline for such school. 

Also the following: 

^Resolved, That the trustees be directed to take immediate measures to raise an 
endowment fund for the college amounting to at least $250,000. 



42 FINANCIAX. CONDITION OF GEOKGE WASHINGTON UNIVERSITY. 

On April 25, 1873, the executire committee of the trustees of the 
university issued a ''Plan of Columbian University," in which the 
following statement occurs: 

Througti the munificence of W. W. Corcoran, L. L. D., president of the corporation, 
a valuable tract of land, adjacent to the city of Washington, estimated to be worth 
$200,000, has been pledged to the permanent endowment of the universitj'-, provided 
the additional sum of $100,000 be raised for the same purpose within the period of two 
years from the 1st day of January last. The principal of both these sums is to be 
funded and to remain forever intact. 

President Welling, in liis annual report June 17, 1874 (Trustees' 
Records, vol. 3, p. 397), reported that the executive committee had 
engaged the services of Rev. James B. Simmons, D. D., of New York, 
as an agent of the corporation to assist in raising the fifty or sixty 
thousand dollars still required in order to secure Mr. Corcoran's gift. 

At a meeting of the corporation January 4, 1875 (Trustees' Records, 
vol. 3, p. 414), President Welling reported that in the city of Wash- 
ington the sum of $30,750 had been subscribed and pledged, that in 
the city of Baltimore $11,168 had been subscribed and pledged, and 
that the agent employed by the executive committee. Dr. Simmons, 
had obtained subscriptions and pledges in the Northern and Eastern 
States amounting to $61,463. 

Dr. Welling further said that although the $100,000 had not been 
raised in cash ''I proceed, of course, on the supposition that Mr. 
Corcoran will not withdraw his proffered gift. It is true, that gift 
has been technically forfeited, for we haA^e failed to meet the letter 
of the prescribed conditions. * * * Being well assured of Mr. 
Corcoran's hearty desire to confer upon us this proffered boon, I can 
not but hope that he will accept the sums already pledged as an 
earnest of our ultimate triumph." 

Rev. James B. Simmons, the agent appointed to obtam subscrip- 
tions to this fund, was paid the sum of $3,000 for his services out of 
the money obtained through his efforts. 

At a special meeting of the board of trustees, January 28, 1875 
(Trustees' Records, vol. 3, p. 419) : 

Mr. Stickney stated the executive committee had held a meeting, Mr. Corcoran 
being present, when the latter proposed to execute the deed conveying "Trinidad" 
to the university and place it in the hands of Mr. Riggs to be retained by him in 
escrow until fifty thousand dollars of the hundred thousand subscribed shall have 
been paid, then to be delivered to the trustees of the university. Mr. S. read the 
deed, when the following was unanimously adopted: 

Resolved, That this board accepts the deed from Wm. W. Corcoran dated January 23, 
1875, conveying the parcel of land known as Trinidad and do hereby authorize the 
president of the university to sign the same and the secretary to attest the same and 
to affix the corporate seal thereto. 

^Ir. Corcoran also made a subscription of $4,000, payable when the 
full sum of $100,000 was realized from other subscriptions. On 
February 15, 1875, IMr. Corcoran paid $2,000 in cash on account of 
his $4,000 subscription, but the conditions not being compUed with 
he did not pay the balance. 

At a special meeting of the trustees held June 29, 1875 (Trustees' 
Records, vol. 3, pp. 441-446), the treasurer reported a list of sub- 
scribers to the Corcoran endowment fund who had paid a part or all 
of their subscriptions, showing that $51,178.10 had been paid in cash 
to the treasury, including $2,000 from W. W. Corcoran. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 43 

On July 7, 1875, the deed from Mr. Corcoran was recorded. This 
deed contains the<following recital: 

Whereas it is the desire of the said William W. Corcoran to aid in the establishment, 
at the seat of government of the United States, of an institution designed for the 
acquisition of knowledge in all the higher branches of learning, where the youth of 
the country may enjoy the most enlarged advantages of a liberal education through 
coming time, and with that desire and intent he is moved to make this conveyance 
to the said "Columbian University," in accordance with the acts of Congress herein- 
before referred to, and in part recited, to be held and disposed of, by the trustees, for 
the benefit of the said "Columbian University," in the manner hereinafter provided, 
and in accordance with such lawful rules and regulations as now exist or that may 
hereafter be established by them and their successors. 

The habendum to the deed is as follows: 

To have and to hold the said parcels of land with the rights, et cetera, as aforesaid 
unto the said party of the second part, and its assigns, for the use and benefit and 
purposes of the said "Columbian University," forever; but this conveyance is made 
in the nature of a trust, and upon this condition, to wit: That the said party of the 
second part, or the proper authority of the said college, or of the present Columbian 
University, may, in their discretion, sell and convey said lands, or any such portion 
thereof, in fee simple, in such a manner, at such times, and upon such terrtis and 
conditions as they, or their successors, may elect, provided that the proceeds, or 
purchase money, thereof, together with the sum of 1100,000, subscribed and to be 
obtained from other soinrces, in addition to the proceeds of the sale of Trinidad, shall 
constitute a principal sum, to be known as the "Corcoran endowment fund," and to 
be forever held inalienable, and not to be diminished by use for the support of said 
institution, but that the whole amount of said principal sum shall be invested, in 
the discretion of the trustees of said institution and according to their best judgment, 
and the interest thereon, or the income therefrom derived, only, shall be used for 
the current expenses and support of said institution ; provided always that in case of 
the sale of said property, or of any portion of the same, the piu-chaser, or the purchasers, 
shall not be held responsible for the disposal of the purchase money; and this deed 
is to be effectual and binding in law, when accepted by the trustees of the "Colum- 
bian University," and signed by the president thereof, and attested by the secretary 
under the seal of the institution. 

At a meeting of the trustees March 18, 1885 (Trustees' Zecords^ 
vol. 4, p. 114), the offer of the Washington Brick Machine Co. to pur- 
chase Trinidad and to pay to the university therefor the sum of 
$85,000 and to assume the payment of a claim of the heirs of George 
M. Oyster, amounting to $20,000, was accepted, Dr. Welling stating 
that Mr. Corcoran advised the acceptance of the offer. 

The sale of Trinidad to the Washington Brick Machine Co. was 
consummated, they paying $13,000 in cash and giving $72,000 in 
notes. 

At a special meeting of the corporation held March 27, 1885 
(Trustees' Records, vol. 4, p. 116), Dr. Welling, "on behalf of the 
building committee," stated that "while all the corporation were 
aware that the principal arising from the sale of Trinidad could not 
be used for current expenses, it was deemed advisable to borrow 
from this source temporarily the sum of $10,000 rather than mortgage 
the valuable property of the university." It was thereupon — 

Ordered, That the sum of $10,000 be temporarily borrowed from the cash payment 
on Trinidad, to meet the expenses incurred in the equipment of the Corcoran Scien- 
tific School; the consent of Mr. W. W. Corcoran to be obtained. 

It is stated in the treasurer's annual report for that year that Mr. 
Corcoran's consent was obtained to this borrowing. 

The $13,000 cash payment was placed in the general fund, and out 
of that fund the expenses of the sale of Trinidad, amounting to 
$1,230.60, were paid. 



44 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

In the treasurer's report for the year 1886 the treasurer says that 
up to June 1, 1886, there had been expended for the equipment of 
the Corcoran scientific department m fixtures, apparatus, and 
material $6,308.21. 

The $72,000 in notes were paid from time to time and the proceeds 
turned into the Corcoran Fund. 

Mr. Corcoran, on June 11, 1886, gave a further contribution of 
$25,000 cash to the fund. A copy of his letter is as follows: 

Washington, June 11, 1886. 
My Dear Dr. Wellinii : As I have learned that an arldition to the working endow- 
ment of the Cohimbian University would greatly promote its efficiency, and as I 
continue to take a deep interest in the prosperity of the institution, I take pleasure in 
communicating to yon, and through you to the corporation, that I will cheerfully 
contribute for this purpose the sum of §25,000, with the understanding that, as an 
addition to the present endowment, the principal shall be kept perpetually intact, and 
that only the annual interest thereof shall be used for the working expenses of the 
university. 

Yours, most truly, W. W. Corcoran. 

This $25,000 subscription from Mr. Corcoran was in the form of 
five notes of Charles Losekam, aggregating $23,000, secured by deed 
of trust, and a note of J. F. Keenan for $2,000, also secured by deed of 
trust. 

These notes were afterwards paid and the proceeds turned into 
the fund. 

Other subscriptions to the fund were : 

Matthew Bolles, $200 bond city of Washmgton, $200 bond city of 
Warsaw, $250 bond city of Olathe, Kans. 

These bonds were all redeemed at par and the proceeds, amounting 
to $650, were turned into the fund. 

Charles Pratt, $1,000 bond Positive Motion Loom Co. 

Interest on this bond was paid for a time but ultimately defaulted, 
after which Mr. Pratt redeemed the bond by paying $1,000 cash, 
which was turned into the fund, 

George G. Tyler, 99-year lease on house in Baltimore. 

This was valued at $1,250 when contributed, but after being held 
for several years was sold for $503.16 and the proceeds turned into 
the fund. 

Gardiner G. Hubbard, $500 Cosmos Club bonds, 12 shares Pennsyl- 
vania Telephone Co. stock. 

The Cosmos Club bonds were embezzled by Robert H. Martin, at 
one time treasurer of the university. 

The Pennsylvania Telephone Co. afterwards reduced its capital stock, 
and in lieu of the 12 shares donated by Mr. Hubbard, the university 
received 8 shares of stock, par value $50 each. This stock was 
afterwards exchanged for an equal amount of stock of the Bell Tele- 
phone Co., of Pliiladelphia. On November 3, 1909, the Bell Telephone 
Co. stock was exchanged for 4 shares of the American Telegraph & 
Telephone Co. stock, par $100 each, and the sum of $72 in cash was 
paid out of the general fund to equalize the value of the stocks. The 
American Telegraph & Telephone Co. stock is still held. 

The remainder of the subscriptions were received in cash from 
various subscribers, aggregating $80,414.32. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 45 

The subscriptions from various sources are summarized as follows : 

W. W. Corcoran: 

Proceeds sale of Trinidad |85, 000. 00 

Cash subscription 2, 000. 00 

Proceeds of notes donated 25, 000. 00 



112, 000. 00 

Matthew Bolles, proceeds of bonds 650. 00 

Charles Pratt, for Loom Co. bond 1, 000. OO 

George G. Tyler, proceeds sale of 99-year lease 503. 16 

Gardiner G. Hubbard: 

Varlue of 1500 bond. Cosmos Club, embezzled by R. H. Martin 500. 00 

Par value of telephone stock 400. 00 

Other subscribers, cash 80, 414. 32 



195, 467. 48 

Investments were made from time to time of the moneys received, 
some of which resulted in profits, others in losses. Profits were 
realized on investments as follows: 

Nov. 25, 1891, 131,000 city of Cincinnati bonds were sold 

for $37, 045. 00 

The cost was 32, 288. 30 

$4, 756. 70 

344.79 
3, 451. 35 



June 12, 1893, $4,700 United States 4 per cent bonds were 

sold for 5.201.91 

The cost was 4, 857. 12 



Mar. 28, 1902, net proceeds sale of 1719 S Street 12, 570. 18 

The cost was 9, 118. 83 



Burgdorf lots sold: 

Oct. 12, 1898 7, 000. 00 

Nov. 29, 1902 716.41 

Aug. 31, 1903 7, 068. 01 

Mar. 4, 1904 4, 471. 94 

Jan. 30, 1905 1,847.50 



21, 103. 86 
The cost was 13, 354. 65 



Dec. 7, 1905, net proceeds sale of Columbian Building 159, 200. 01 

The cost was 149, 092. 55 



Mar. 17, 1907, proceeds sale of Van Ness Park 200, 000. 00 

The original cost was 162, 043. 21 

The amount paid for taxes, interest, etc., in 
carrying the property from date of purchase 

to date of sale was 31, 102. 53 

193,145.74 



Sales of participation in Memphis Union Sta- 
tion loan : 

Dec. 30, 1907 15, 921. 18 

Mar. 27, 1908 9, 000. 00 

Apr. 29, 1908 15, 000. 00 

Mav 28, 1908 10, 212. 55 



7, 749. 21 
10, 107. 46 

6, 854. 26 



50, 133. 73 
The cost was 49, 561. 27 



Dec. 23, 1908, sale of Chicago, Rock Island & Pacific col- 
lateral trust 4 per cent bonds 11, 250. 00 

The cost was 9, 770. 11 



572. 46 

1, 479. 89 
35, 316. 12 



46 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

In addition to these profits already realized, there is on hand unsold 
lot No. 148, square 672, one of the original Burgdorf lots, the proceeds 
of which when sold will be an additional profit. This lot is assessed 
at $1,350. 

Losses were sustained on investments as fqllows: 

Nov. 30, 1875, cost of $14,000 United States 5 per cent bonds. . $16, 380. 00 
May 31, 1876, cost of $8,000 United States 5 per cent bonds... . 9, 520. 00 
Feb. 28, 1877, cost of $5,000 United States 5 per cent bonds. . . 5, 525. 00 
May 31, 1878, cost of $4,000 United States 5 per cent bonds... . 4, 295. 00 
Oct. 18, 1878, cost of $2,500 United States 5 per cent bonds... . 2, 609. 37 

38, 329. 37 

May 31, 1882. these bonds were redeemed at par 33, 500. 00 

4, 829. 37 

May 31, 1882, cost of $28,000 Missouri State bonds 30, 900. 00 

Express charges on same 10. 20 

30, 910. 20 

May 31, 1886, Missouri bond redeemed $1, 000. 00 

May 31, 1887, Missouri bonds redeemed 11, 000. 00 

May 31, 1888, Missouri bonds redeemed 16, OQO. 00 

' 28,000.00 

2,910.20 

May 31, 1883, cost of $3,000 District of Cohimbia 3.65 

bonds 3, 302. 50 

May 31, 1884, cost of $850 District of Columbia 3.65 

bonds 941. 37 

May 31, 1884, cost of $1,000 District of Columbia 3.65 

bonds 1, 145.00 

May 31. 1885, cost of $500 District of Columbia 3.65 

bonds .:..:........ 567. 50 

May 31, 1886, cost of $1,000 District of Columbia 3.65 

bonds 1, 192. 50 

— 7, 148. 87 

June 12, 1903, R. H. Martin, treasurer, sold $6,000 of 

these bonds for '. ;....; 6, 575. 93 

Pi. H. Martin, treasurer, embezzled $350 of these 

bonds, valued at '. ..'. 385. 00 

6, 960. 93 

187. 94 

Cost of Knight house, 903 M Street, on foreclosure 7, 910. 57 

Less proceeds of sale July 22, 1905 ' 5, 800. 00 

— — 2,110.57 

On June 12, 1893, R. H. Martin, the then treasurer of the university, 
sold $4,700 United States 4 per cent bonds and $6,000 District of 
Columbia bonds belonging to this fund, $2,000 United States 4 per 
cent bonds and $1,000 District of Columbia bonds belonging to the 
Kendall fund, $3,000 United States 4 per cent bonds and $2,000 
Burlington & Missouri River Railroad bonds belonging to the Elton 
professorship fund, and $2,000 District of Columbia bonds belonging 
to the miscellaneous securities of the university, and mingled the 
proceeds, amounting to $22,597.37, with $3,000 of the uninvested 
principal of this fund in the purchase of certain notes secured by 
deeds of trust, costing $25,408.16, and embezzled the balance of 
$189.21. From the securities thus purchased he set aside a $2,000 
interest in a $5,000 note of John MacGregor to represent the prin- 
cipal of the Mary Lowell Stone scholarship fund of $2,000 which he 
had embezzled, and the remaining interest of $3,000 in the same note 
he set aside to represent that much of the Kendall fund. He also 
set aside a $5,000 note of Roberta K. F. Oberteuffer belonging to the 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 47 

Corcoran endowment fund to represent $5,000 of the Elton professor- 
ship fund. 

The amount received for Kendall fund secm-ities was |3, 309. 61 

Less interest in MacGregor note 3, 000. 00 

Leaves due to that fund 309. 61 

The amount received for Elton professorship securities was 5, 317. 94 

Less Oberteuffer note 5, 000. 00 

Leaves due to that fund 317. 94 

The transactions connected with the sale of the miscellaneous 
securities and the making good of the Stone scholarship fund will 
be explained under the heading of amounts due from general fund. 

MARTIN EMBEZZLEMENT, 

In the year 1897 it was discovered that the then treasurer, Robert 
H. Martin, had embezzled $840 of collections for the trustees' fund 
of the university. This $840 he made good and he was removed 
from office. Shortly afterwards he confessed that he had embezzled 
$4,000 more, of which $2,000 was the check received for the endow- 
ment of the Mary Lowell Stone fund and $2,000 belonging to the 
Corcoran fund. 

He was under bond in the sum of $10,000. The trustees of the 
university settled with his bondsmen and accepted from them the 
sum of $4,000 and surrendered the bond. The $4,000 was placed 
in the general fund. 

Subsequently an accountant was employed who ascertained that 
the total amount of Martin's embezzlement was $25,850.81, of which 
amount $15,774.21 belonged to the Corcoran endowment fund, 
$2,000 to the Mary Lowell Stone fund, $5,000 to the H. H. Carter 
fund, and $3,076.60 to the general fimd. 

Of the $4,000 recovered from the bondsmen, $2,000 was a specific 
reimbursement to the Stone fund and $2,000 a specific reimburse- 
ment to this fund, leaving the net embezzlement of this fund by 
Martin $13,774.21. 

AMOUNTS DUE FROM GENERAL FUND. 

The cash payment of $13,000 made by the Washington Brick 
Machine Co. on the purchase of "Trinidad" in 1885 was put into 
the general fund and the expenses of the sale, amounting to $1,230.60, 
were paid out of that fund. 

Previous to this (in May, 1880) there had been advanced from 
the general treasury the sum of $2.47 to make up the amount neces- 
sary to purchase United States bonds. 

During the fiscal year ending May 31, 1887, there was purchased 
for this fund two notes, T. B. Ferguson, of $10,000 each, and three 
notes of William Harper for $947.75 each, upon which $158.18 
accrued interest was paid out of the principal of this fund. 

During the fiscal year ending May 31, 1888, $4,400 Church of the 
Covenant bonds were purchased, upon which $4.22 accrued interest 
was paid out of the principal of this fund. 



48 msTAisrciAL condition of geokge Washington university. 

Durino; the fiscal year ending May 31, 1892, th.ree notes of Lucy J. 
and G. M. "Wlieeler, amounting to $25,000, were purchased, upon which 
$150 accrued interest was paid out of the principal of this fund. 

During this year the proceeds of a note of William A. Johnson, 
amounting to $688.38, belonging to the general fund, were credited to 
this fund, and $787.06 in cash from the general fund and $250 in 
cash belonging to a sinking fund intended to liquidate a loan of 
$10,000, made out of this fund to the medical faculty of the university, 
were placed in this fund for the purpose of making up an amount 
to purchase investments. 

On June 12, 1893, note of Lucy E. Knight for $7,000 was purchased, 
and $8.16 accrued interest paid out of the principal of this fund. 

On the same date $2,000 of District of Columbia bonds belonging 
to the miscellaneous investments of the university were sold by 
Treasurer Martin and the proceeds, $2,191.98, mingled with the assets 
of this fund in the purchase of securities. In the treasurer's report of 
May 31, 1894, Treasurer Martin set aside a $2,000 interest in a $5,000 
note of John MacGregor (one of the investments made with these 
blended funds) to represent the Mary Lowell Stone scholarship fund, 
of $2,000, which he had embezzled. The trustees afterwards recov- 
ered from Martin's bondsmen the amount of this particular embezzle- 
ment and allowed the interest in the MacGregor note to stand to the 
credit of the Stone fund. The remaining $2,000 of the $4,000 recov- 
ered for account of the Martin embezzlement, which should have been 
credited to this fund, was retained in the general treasury. On Jan- 
uary 25, 1895, the Bowler note of $1,400 was purchased, and accrued 
interest of $17.73 was paid out of the principal of this fund. 

On October 24, 1894, the Wheeler notes, amounting to $25,000, were 
paid off, with accrued interest amounting to $16.65 belongino; to the 
general fund, which was credited to the principal of this fund. 

On May 28, 1896, Treasurer Robert H. Martin borrowed from Riggs 
& Co. on the note of the university the sum of $3,000 and deposited 
the money to the credit of this fund. This note was subsequently 
paid out of the general fund, and the general fund should receive 
credit for the amount. 

On September 3, 1896, there was taken from the general fund and 
placed in this fund the sum of $741.08, for the purpose of making up 
an amount for investment. 

Inasmuch as the payments of interest on the various securities pur- 
chased were received by the general fund, that fund should reimburse 
the Corcoran fund for all amounts of accrued interest paid as above. 

During the fiscal year ending May 31, 1888, the Washington Brick 
Machine Co. paid off $56,000 in notes given in settlement of the 
"Trinidad" property, and the trustees of the university thereupon 
purchased out of this fund from the National Savings Bank a note of 
the Columbian University secured by deed of trust on the old law 
building on Fifth Street and the house 222 Third Street belonging to 
the $40,000 endowment fund. They also purchased from Riggs & 
Co. a note of the Columbian University for $18,000, secured by deed 
of trust on the university buildings at Fifteenth and H Streets, and 
purchased from the Louise Home a note of H. H. Barker (assumed 
by the Columbian University) secured by deed of trust on the 
preparatory school building now a part of the hospital property. 
They also loaned to the faculty of the medical department of the 
university the sum" of $10,000. 



FINANCIAL, CONDITION OP GEORGE WASHINGTON UNIVERSITY. 49 

On July 7, 1896, a further loan of $1,200 was made of this fund to 
the medical faculty. 

In volume 5 of the Hecord of Trustees (p. 237), the following appears 
in the minutes of a meeting held January 29, 1897, at which President 
Whitman and Messrs. Greene, Mason, McKnew, Needham, Wilson, 
and Woodward were present: 

Mr. James G. Hill, architect, at tlie invitation of the treasurer, Mr. Woodward, 
presented plans for a new seven-story office building on the site of the old law building, 
together with estimates of cost and probable income from rentals. 

President Whitman called attention to the fact that at the late meeting of the cor- 
poration certain plans and instructions were left to be carried out by the board: 
First, with reference to the adjustment of the Corcoran endowment and other trust 
funds made necessary by the defalcations of the late treasurer, Mr. Eobert H. Martin. 
Mr. Needham offered the following resolutions, which were adopted: 

""\i\Tiereas some years heretofore a portion of the Corcoran endowment fund was 
invested in three notes aggregating $38,434.13, executed or assumed by the Columbian 
University and secured by trust deeds upon its propei'ty known as the 'law building ' 
on Fifth Street, and the preparatory school building; and 

' ' Whereas it is for the best interests of the university that the floating indebtednesB 
of the university be paid; Therefore, 

"Resolved, That the said three notes of the Columbian University aggregating 
$38,434.13, and heretofore carried as a part of the Corcoran endowment fund be can- 
celed, and the trust deeds upon the property known as the 'law building,' on Fifth 
Street, and the preparatory school building be released of record; that said property 
known as the 'law building,' being lot 14 and the south half of lot 13 in square 489 
in the city of Washington, District of Columbia, be, and the same is hereby, made a 
part and placed to the credit of the Corcoran endowment fund, free and clear of all 
encumbrance, at a valuation of $50,000, and that hereafter in all statements of the 
assets of said university said real estate last above described shall be listed as a part 
of the Corcoran endowment fund at said valuation. 

"Resolved, That the 12 unimproved lots mentioned in schedule D of the treasurer's 
report for the year ending May 31, 1897, be, and the same are hereby, made a part 
and placed to the credit of the Corcoran endowment fund, free and clear of all encum- 
brances, at a valuation of $40,000, and that hereafter in all statements of the assets oi 
said university said 12 unimproved lots shall be listed as a part of the Corcoran endow- 
ment fund at said valuation. 

"Resolved, That $5,000 of the principal note of James J. Lampton for $9,000, dated 
February 9, 1895, due in five years thereafter, with the interest to accrue thereon, 
be transferred to the Mary M. Carter fund, appropriated by Robert H. Martin, and 
that hereafter only $4,000 of said principal note shall belong to and be listed in the 
Corcoran endowment fund. 

"Resolved, That the executive committee are hereby directed to use $27,900 or as 
much thereof as may be necessary of the assets now listed under the Corcoran endow- 
ment fund and the miscellaneous investment fund, as the same matures, or can be 
disposed of at not less than their face value with accrued interest, to pay off the 
liabilities of the university set forth in schedule C, of the treasurer's report for the 
fiscal year ending May 31, 1897." 

In pursuance of these resolutions the $38,434.13 notes of the 
university were canceled and dropped from the assets of the Corcoran 
endowment fund, as were also the two notes of the medical faculty 
amounting to $11,200. There was also paid out of this fund to the 
National Metropolitan Bank the sum of $25,000 in payment of the 
general indebtedness of the university. 

The 12 unimproved lots mentioned in these resolutions which were 
to be placed to the credit of the Corcoran fund at a valuation of 
$40,000 were part of the lots granted by Congress as a special endow- 
ment, and were therefore not available for the purposes of the reso- 
lution. The property known as the law building on Fifth Street 
was placed to the credit of the Corcoran fund at a valuation of 
$50,000 and afterwards a large office building known as the Colum- 
bian Building was erected on the site and the cost of construction, 

68966— H. Doc. 1060, 61-3 i 



50 



FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 



amounting to $99,092.55, was paid for out of the assets of the Cor- 
coran fund. 

The resolution in regard to transferring $5,000 of the principal of 
the $9,000 note of James J. Lampton to represent the Carter fund 
embezzled by Martin does not appear to have been carried out. The 
entire amount of that note was continued to be listed as an asset of 
the Corcoran endowment fund. 

From the foregoing it would appear that the trustees at this 
particular time attempted to make good the impairment of the fund, 
but from the following statement it will appear that the result of the 
operations at this time was to leave the general fund indebted to the 
Corcoran fund on May 31, 1898, in the sum of $33,064.20, which is 
in addition to the impairment of $13,774.21 by the embezzlement 
of K. H. Martin. 



1885. 
1887. 

1888. 

1892. 
1893. 
1894. 

1895. 
1897. 

1897. 
1897. 
1897. 



Dr. 
Cash payment on 

"Trinidad" $13,000.00 

Accrued interest on 

Ferguson & Harper 

notes 158. 18 

Accrued interest on 

Church of Covenant 

bonds 4.22 

Accrued interest on 

Wheeler note 150. 00 

Accrued interest on 

Knight note 8. 16 

Interest in MacGregor 

note set aside for 

Stonefund 2,000.00 

Accrued interest on 

Bowler note 17.73 

Cash recovered from 

Martin's bondsmen 

on account of em- 
bezzlement of this 

fund 2, 000. 00 

Notes of the Columbian 

University canceled . 38,434.13 
Notes of the medical 

faculty canceled 11, 200. 00 

Cash paid to Metropoli- 
tan National Bank 

on account of indebt- 
edness of general 

fund 25,000.00 



91, 972. 42 



Or. 

1880. Cash advanced toward 
purchase of invest- 
ment $2.47 

1885. Expenses of sale of 

"Trinidad" 1,230.60 

1892. Proceeds of Johnson 
note belonging to 
general fund 688.38 

1892. Cash from general 

fund 787.06 

1892. Cash from medical 

sinking fund 250.00 

1893. Proceeds of bonds be- 

longing to miscella- 
neous investments ... 2, 191. 98 

1894. Interest on ^ATieeler 

note 16. 65 

1896. Cash from Riggs& Co.. 3,000.00 

1896. Cash from general 

fund 741.08 

1897. Value of law-building 

site 50, 000. 00 

58, 908. 22 
By balance due from general 

fund 33,064.20 



91, 972. 42 



In providing funds for the construction of the Columbian Building 
certain sums were borrowed from the National Metropolitan Bank 
pending the sale of securities belonging to this fund. During the 
fiscal year ended May 31, 1899, there was paid out of the principal 
of the Corcoran endowment fund for interest and revenue stamps 
on the notes given to the National Metropolitan Bank the sum of 
$482.66. As the general fund was receiving the income from invest- 
ments of the Corcoran endowment fund this sum should be returned 
to the Corcoran fund. There was also paid the sum of $4.50 to 
Tyler & Rutherford for the release of deed of trust securing the 
notes held by this fund against the university buildings now occupied 



FINANCIAL CONDITION OP GEORGE WASHINGTON UNIVEESITY. 51 

by the hospital and the medical school. This expense should be 
charged to tne general fund. 

The assests of the fund as of December 31, 1899, were as follows: 

Note of A. M. McLachlen, secured by trust deed $3, 000. 00 

Note of Power & Peterson, secured by trust deed 10, 000. 00 

Note of J. H. Lane, secured by trust deed 2, 400. 00 

Old law-building site 50, 000. 00 

Cost of construction, Columbian Building 99, 092. 55 

House No. 903 M Street, bought in at foreclosure sale 7, 910. 57 

House No. 1719 S Street, bought in at foreclosure sale 9, 118. 83 

Burgdorf lots, bought in at foreclosure sale $13, 354. 65 

Less cash received for part of lots sold 7, 000. 00 

6, 354. 65 

Pennsylvania telephone stock 400. 00 

Cash on hand 97. 74 

Due from general fund 33, 551. 36 

Embezzled by R. H. Martin 13,774.21 

235, 699. 91 

As against this there was owing to the National Metropolitan 
Bank the sum of $46,661.50 for money borrowed on account of 
construction of Columbian Building. 

On February 1, 1900, there was borrov/ed from the Mutual Benefit 
Life Insurance Co. the sum of $40,000 on a note secured by deed of 
trust on the Columbian Building, and this amount was paid to the 
National Metropolitan Bank on account of its notes. This $40,000 
loan was paid off out of the general fund on August 1, 1903, from the 
proceeds of a $360,000 loan made upon the university buildings. 

On May 7, 1900, the McLachlen note of $3,000 was paid off, and 
the amount received by the university was applied to the reduction 
of the amount due the National Metropolitan Bank. 

On February 28, 1902, the house 1719 S Street was sold and netted, 
after the payment of expenses of the sale, $12,570.18. From this was 
paid the balance due the National Metropolitan Bank, $3,661.50, and 
there was "transferred" to the general fund $3,451.35 as profits on 
the S Street house, and there was "loaned" to the general fund the 
sum of $5,555.07, being the balance of the proceeds of the sale of the 
S Street house ($5,457.33) and the cash balance on hand December 
31, 1899, as shown above ($97.74). 

On March 6, 1902, the J. H. Lane note of $2,400 was paid, and on 
March 7, 1902, this amount was "loaned" to the general fund. 

On November 29, 1902, one of the Burgdorf lots was sold for $716.41 
and this amount was "transferred" to the general fund. 

On August 31, 1903, others of the Burgdorf lots were sold for 
$7,068.01, and this amount was placed in the general fund. 

On March 4, 1904, there was received from the sale of Burgdorf lots 
|4,471.94, and on January 30, 1905, there was received from sale of 
Burgdorf lots $1,847.50. Both of these amounts were placed in the 
general fund. 

The Lucy Knight house, 903 M Street, which was bought in on 
foreclosure, and which stood the Corcoran fund $7,910.57, was sold 
for $5,800. Two hundred dollars was paid as down money on June 
30, 1905, and the balance of $5,600 was paid July 22, 1905. Both of 
these amounts were placed in the general fund. 

On March 5, 1903, an agreement was signed for the purchase by 
the university of Van Ness Park as a site for university grounds and 



52 FINANCIAL. CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

buildings, and SI, 000 was paid out of tlie general fund. The sale 
was completed November 5, 1903, and the balance of the purchase 
money (together with the expenses of the conveyance), amounting 
to S161, 043.21, was paid. 

The funds for this purpose were provided by borrowing from the 
Riggs National Bank tiie sum of $100,000, secured by deed of trust 
on the Van Ness Park propert}^, and by borrowing from the Wash- 
ington Loan & Trust Co. the sum of S62,000, secured by deed of trust 
on the Columbian Building belonging to the Corcoran endowment 
fund. 

From the money thus borrowed, there was returned to the general 
fund $956.79, leaving the net investment of the general fund in this 
property $43.21; the balance of the investment being represented by 
$100,000 borrowed on the property itself and $62,000 borrowed on 
assets of the Corcoran endowment fund. 

On October 14, 1903 (Trustees' Records, vol. 6, p. 134), President 
Needham, in his annual report, says: 

Pursuant to the direction of the board of trustees the executive committee entered 
into a contract for the purchase of Van Ness Park, at the corner of Seventeenth Street 
and the Potomac Park, and deposited $1,000 upon the purchase, the purchase price 
at 75 cents per foot making a total cost of $161,343 * * *. 

The executive committee further determined vrhen this contract \ras entered into 
that the Fifth Street office building, valued at $225,000, should be sold and the pro- 
ceeds used to complete this purchase, and erect on the north side a dormitory building 
to be called Corcoran Hall in honor of Mr. W. W. Corcoran * * *. I am aware that in 
the minds of some the propriety of applying this property to this purpose is questioned, 
because it represents the Corcoran endowment fund. 

In order that we may carefully understand the conditions, permit me to read all 
that appears upon the record and all that is known, so far as I can ascertain about 
the intentions of the donor, Mr. W. W. Corcoran. It is contained in the letter dated 
July 11, 1873, and addressed to Mr. Stickney, secretary and treasurer of the Columbian 
College, and is found in volume 3, page 348, of the -records of this board. 

(Record read, see volume and page referred to.) 

This property was afterwards conveyed by Mr. Corcoran, although it does not appear 
whether he waived the condition that an additional $100,000 be raised. (Deed read 
and filed.) * * * 

The Corcoran fund was placed in the Fifth Street building, which now brings in an 
average annual income of $10,550. The building is free and clear of all incumbrances 
and valued at $225,000. Will the sale of this property and placing the proceeds in the 
new investment and in a dormitory building be in any sense an improper use of the 
fund? If it is, I am sure no one upon this board would for a moment think of making 
such a change. The whole object of the gift, as shown by Mr. Corcoran's letter, was 
to "place the college on a higher and permanent footing." To be sure that might be 
accomplished by the mere investment of the funds, the collection of interest and 
dividends upon the investment, and applying the income to educational purposes. 
But may it not be accomplished to a much higher degree by placing the institution 
upon a new and better site, with new and improved buildings? This must be judged 
by the effect that such a movem.ent would have upon the university. 

To-day the iuA-estment produces an annual income of approximately $10,550, which 
is only ten-seventeenths of the interest that we are paying upon indebtedness. If the 
money were used for the purchase of this site and the erection of a building to be used 
as a dormitory on the north side of the lot, free and clear of all incumbrances (because 
this proposition does not contemplate any permanent incumbrance of the new site), 
we should have as a result of this change of investment 5 acres of ground in the finest 
location possible. This would increase our student body, as before stated, at least 250 
students the first year. The building would furnish 125 rooms, which, rented at the low 
price of $6 per month, would furnish a direct income of over $7,000. The money 
result of this movement would then be as follows : Increase in tuitions, $25,000; receipts 
from dormitory building, $7,000; making a total increase of income of $32,000, as 
against an income to-day of $10,550. We shall maintain, without question, the integ- 
rity of tlie principal, increase the income, and fulfill Mr. Corcoran's wish by placing 
the university on a "higher and permanent footing." It may be noted also that the 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 53 

building of a handsome dormitory upon the grounds of the university near the public 
buildings and the Corcoran Art Gallery, dedicating it to Mr. Corcoran's memory, 
would be a handsome recognition of Mr. Corcoran's beneficence to this university. 
I therefore recommend that the board pass a resolution authorizing the executive 
committee to use this property for the purpose of completing the purchase of Van Ness 
Park and putting the remainder and the equity, together with the equity in its prop- 
erty at the corner of H and Fifteenth Streets, into a building upon the" ground pur- 
chased, to be known as Corcoran Hall. 

The consideration of the recommendations of the president in reference to the 
purchase of Van Ness Park and the action of the executive committee thereon was 
duly considered, and on motion of Dr. Greene a committee of three was appointed to 
consider the question of temporarily raising funds to complete the purchase, the com- 
mittee to report at the next meeting of the board. 

At a meeting of the trustees held November 3, 1903 (Trustees' 
Records, vol. 6, p. 142): 

The committee on the purchase of Van Ness Park, through the president, made a 
verbal report, stating that it had been previously determined by the executive com- 
mittee and the board to sell the Columbian Building on Fifth Street and to devote 
a part of the proceeds to the purchase of Van Ness Park, and also to devote the balance 
of the proceeds and the equity in the property at the corner of Fifteenth and H Streets, 
when sold, to the erection of a building upon the north side of Van Ness Park, to be 
known as Corcoran Hall, in memory of Mr. William W. Corcoran, the building, when 
built, and Van Ness Park to be free from all incumbrances; that up to the present 
time no satisfactory offer had been made for the Columbian Building, but the com- 
mittee believes that within a few months the property can be sold at a satisfactory 
price. The committee therefore recommended that temporary loans be made to 
complete the purchase of Van Ness Park, the same to be paid off out of the proceeds 
of the Columbian Building as soon as it can be sold; that pursuant to this plan an 
arrangement had been made with Mr. Glover, of the Riggs National Bank, to make a 
regular loan of $100,000 upon Van Ness Park for three years. * * * Sixty-two 
thousand dollars is offered through Mr. Edson, by the Washington Loan & Trust Co., 
to be secured upon the Columbian Building. * * * 

There was a full discussion of the subject by members of the board. 

The board thereupon adopted resolutions authorizing the borrow- 
ing of $162,000 as recommended, and the execution of deeds of trust 
to secure the loans. 

On May 6, 1905, there was paid out of the general fund the sum of 
$12,000 on account of the $62,000 loan on the Columbian Building. 
This money came out of the proceeds of a $450,000 loan from the 
Fidehty Trust Co., of Philadelphia, upon the university buildings. 

On December 7, 1905, the Columbian Building was sold to Redfield 
Proctor for $162,500. After deductine; commissions and other 
expenses the net proceeds amounted to $159,200.01. Senator 
Proctor assumed the balance due on the Washington Loan & Trust Co. 
notes amounting to $50,000 and the university received $109,200.01 
in cash. Of this, $100,000 was paid to the Riggs National Bank in 
settlement of notes given for purchase of Van Ness Park, and $9,200.01 
was "loaned" to the general fund on December 27, 1905. 

On M?ij 17, 1907, Van Ness Park was sold to the Government for 
$200,000. From this there was transferred to the general fund as 
profits on Van Ness Park, $30,000, and there was "loaned" to the 
general fund on June 14, 1907, the sum of $68,000. 

In the preliminary report submitted Ma,y 17, 1910, among the 
amounts representing profits on trust investments, was included: 
"Amount of profit on sale of Van Ness Park, $37,956.79." 

This amount was arrived at by deducting the cost price, $162,043.21, 
from the selling price, $200,000, without taking into consideration 
the cost of carrying the property. It has been ascertained that the 



54 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY, 

follo\\Tiig amounts were paid out of the general fund, on account of 
this property: 

Taxes for two years $2, 005. 00 

Watchman 469. 19 

Siirvey 30. 00 

Interest on 1100,000 from Nov. 4, 1903, to Dec. 12, 1905 10, 629. 82 

Interest on §50,000 from Nov. 4, 1903, to Dec. 12, 1905 5, 263. 88 

Interest on $12,000 from Nov. 4, 1903, to May 6, 1905, at 5 per cent 903. 34 

Interest on $12,000 from May 6, 1905, to May 17, 1907, at 4.4 per cent 1, 072. 13 

20, 373. 36 

Add to this the loss of income on $150,000 from Dec. 12, 1905 (date of sale 

of Columbian Building) to May 17, 1907 (date of sale of Van Ness Park). 10, 729. 17 

Makes the cost of carrying this property 31, 102. 53 

Deducting this from the gross profits as shown above, $37,956.79, 
leaves the net profit on the Van Ness Park property $6,854.26. 

The $200,000 received from sale of Van Ness Park was placed in the 
same bank account and mingled with moneys received on account of 
subscriptions to the building site and enlargement fund, and it is 
impossible to trace the proportionate interest of the two funds in 
different investments and ''loans" and "transfers" to the general 
fund. 

The amount of the building site and enlargement fund will there- 
fore be added to the amount of this fund and the two funds considered 
together. 

On July 6, 1907, $50,000 of this fund was sent to the National City 
Bank of New York to be invested. Tjiey purcha,sed a S50,000 par- 
ticipation in Memphis Union Station loan for $49,561.27, and on 
July 9 returned to the university the difference, amounting to $4.38.73. 
This amount was credited to endowment income account and was 
placed in the general fund. The. Memphis Union Station loan was 
sold from time to" time and the proceeds loaned to the general fund as 
follows : 



Par value. 



Amount 
sold for. 



Dec. 30, 1907. 
Mar. 27, 1908. 
Apr. 29, 1908. 
May 28, 1908. 

Total.. 



$16,000.00 
9,000.00 
15,000.00 
10,000.00 



$15,921.18 
9,000.00 
15,000.00 
10,212.65 



50,000.00 



50,133.73 



On October 16, 1907, there were purcliased $15,000 Chicago, T ock 
Island & Pacific collateral trust 4 per cent bonds, at a cost of $9,770.11. 
On December 23, 1908, these bonds were sold for $11,250, and that 
amount was loaned to the general fund. 

On June 20, 1907, the Power and Peterson note of $10,000 belonging 
to this fund was paid off, and this amount, togetlier with $1,87.5 
belonging to the Kendall fund, $700 belonging to iJie Davis prize 
fund and the National Park Seminary endowment, and $13,776.67 
from the proceeds of Van Ness Park and the building, site, and enhxrge- 
ment fund, amounting in all to $26,351.67, was invested in $30,000 
Chicago, j.ock Island & Pacific refunding 4 per cent bonds. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 



55 



On December 3, 1908, $6,000 of these bonds were sold for $5,392.50, 
and this amount was loaned to the general fimd. The remaining 
$24,000 Chicago, Rock Island & Pacific bonds are still held. They 
are carried in the treasurer's accounts as $23,500 to the credit of 
"Investment A" account and $500 to the credit of National Park 
Seminary fund. 

In addition to the "loans" and "transfers" above noted, there have 
been the following amoimts loaned to the general fund from the pro- 
ceeds of the sale of Van Ness Park and the building-site and enlarge- 
ment fund : 

Apr. 1, 1907 $1, 000. 00 

July 1, 1907 10, 000. 00 

Aug. 1, 1907 10, 000. 00 

Aug. 16, 1907 114. 73 

Do 454.54 

Aug. 31, 1907 2, 000. 00 

Sept. 3, 1907 1, 000. 00 

Do 2,000.00 

Do 2,000.00 

Dec. 2, 1907 6,000.00 



Mar. 16, 1908 . $145. 96 

Aug. 3, 1908 4, 000. 00 

Aug. 31, 1908 22. 45 

Dec. 1, 1908 2,000.00 

Dec. 2, 1908 2, 000. 00 

Dec. 2, 1909 2, 800. 00 

Jan. 4, 1910 2, 000. Oa 



Total 47, 537. 70 



The following amounts have been returned by the general fund on 
account of these loans: 

Dec. 2, 1908 |2, 000. 00 

Dec . 27, 1908 2, OCO. 00 

May 18, 1909 1, 000. 00 

Dec. 4, 1909 2, 000. 00 

Dec . 29, 1909 800. 00 



Total 7, 800. 00 

There was invested in the house 1710 N Street the sum of $16,000, 
for which a note of President Charles W. Needham was taken when 
the house was conveyed to him. Of this $16,000 the sum of $8,500 
was taken from the proceeds of the sale of Van Ness Park and the 
building-site and enlargement fund, $500 from the Davis prize fund 
and the National Park Seminary fund, and $7,000 from "Investment 
A," which represents the proceeds of investments belonging to the 
Kendall fund and of the Elton fund. 

The Needham note was assigned to the Washington Loan & Trust 
Co. as collateral security for a loan of $10,000 made by said com- 
pany to the university. Dr. Needham has sold the house, the 
$16,000 has been paid to the Washington Loan & Trust Co., and they 
are holding the proceeds pending the payment by the university of 
the $10,000 loan. 

A summary of the amounts transferred from the Corcoran fund to 
the general fund follows . 

May 31, 1898. Balance due from the general fund, as above $33, 064. 20 

May 31, 1899. Interest and revenue stamps on notes given National 

Metropolitan Bank 

May 31, 1899. Cost of release of deed of trust 

Feb. 28, 1902. Profit on S Street house, transferred to general fund 



Mar. 

Mar. 



482. 66 

4.50 

451. 35 

555. 07 

7, 1902. Proceeds of Lane note 2, 400. 00 

716.41 



5, 1902. Loaned to general fund. 



Nov. 29,1902. Proceeds of 'Burgdorf lot. 



Aug. 31,1903. Proceeds of Burgdorf lot 7,068.01 

Mar. 4, 1904. Proceeds of Burgdorf lot 4, 471. 94 

Jan. 30, 1905. Proceeds of Burgdorf lot 1, 847. 50 

June 30, 1905. Account of 903 M Street 200. 00 

July 22, 1905. Balance of 903 M Street 5, 600. 00 



56 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVEESITY. 

Nov. 5, 1903. Amount returned to general fund out of loans of §162,000 to 

purchase Van Ness Park $956. 79 

Dec. 27, 1905. Net proceeds Columbian Building 9, 200. 01 

May 17, 1907. Transferred to general fund, "profit on Van Ness Park".. 30,000. 00 

•June 14, 1907. Loaned to general fund 68, 000. 00 

July 9, 1907. Amount returned by National City Bank 438. 73 

May 28,1908. Proceeds of sale of Memphis Union Station loan, from 

Dec. 30. 1907, to date 50, 133. 73 

Dec. 23, 1908. Proceeds $15,000 Rock Island collateral trust bonds 11, 250. 00 

Dec. 3, 1908. Proceeds $6,000 Rock Island refunding bonds 5, 392. 50 

Jan. 4, 1910. Sundry loans from Apr. 1, 1907, to date, as listed above ... 47, 537. 70 



Total 287, 771. 10 

The following is a recapitulation of the receipts and expenditures 
of this fund : 

RECEIPTS. 



Subscriptions W. W. Corcoran, Trinidad $85, 000. 00 

Subscriptions W. W. Corcoran, cash and notes 27, 000. 00 

Subscriptions, other sources 83, 467. 48 



Profits on investments: 

Cincinnati bonds 4, 756. 70 

United States 4 per cent bonds 344. 79 

House, 1719 S Street 3,451.35 

Burgdorf lots sold 7, 749. 21 

Burgdorf lots unsold, assessed at 1, 350. 00 

Columbian Building 10,107.46 

Van Ness Park 6, 854. 26 

Memphis Union Station loan 572. 46 

Rock Island collateral trust bonds 1, 479. 89 



$195, 467. 48 



Received from sale of securities belonging to Kendall fund. . 3, 309. 61 
Less interest in note transferred to Kendall fund 3, 000. 00 



Received from sale of securities belonging to Elton professor- 
ship fund 5, 317. 94 

Less note transferred to Elton professorship fund 5, 000. 00 



Received from subscriptions to building site and enlarge- 
ment fund 35, 568. 18 

Received interest on bank balance building, site and enlarge- 
ment fund 438. 91 



36, 666. 12 
309. 61 

317. 94 



36, 007. 09 
Less payments on account of building, wite and enlargement 

fund 16,042.08 

19, 965. 01 

Total receipts 252,726.16 

EXPENDITURES. 

Amount paid Rev. J. B. Simmons, salary as financial agent $3, 000. 00 

Expenses of sale of Trinidad 1, 230. 60 

Loss on United States 5 per cent bonds $4, 829. 37 

Loss on Missouri State bonds 2, 910. 20 

Loss on District of Columbia bonds 187. 94 

Loss on Knight house, 903 M Street 2, 110. 57 

10, 038. 08 



14, 268. 68 
Balance 238, 457. 48 

252, 726. 16 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 57 

The balance as shown above is made up as follows: 

Cash in banks $180. 53 

Four shares American Telephone and Telegraph stock. 472. 00 

Unsold Burgdorf lot (assessed at) 1, 350. 00 

Interest in |24,000 Rock Island refunding 4 per cent 

bonds 18, 384. 17 

Interest in |16,000 mortgage on Needham house 8, 500. 00 

$28,886.70 

Amount of Martin embezzlement 13, 774. 21 

Due from general fund 195, 796. 57 

238, 457. 48 

ASSETS AND LIABILITIES. 

Assets: 

Cash and securities as shown above $28, 886. 70 

Martin embezzlement 13, 774. 21 

Due from general fund 195, 796. 57 

$238, 457. 48 

Liabilities: 

Due to Kendall fund 309. 61 

Due to Elton professorship fund 317. 94 

Due to B. S. & E. fund 19, 965. 01 

20, 592. 56 

Net amount of Corcoran fund 217, 864. 92 

The amount shown under the heading of assets as due from the general 
fund, $195,796.57, may be divided as follows: 

Due to Kendall fund 309.61 

Due to Elton professorship fund 317. 94 

Due to B. S. & E. fund 19, 965. 01 

Due to Corcoran endowment fund 175, 204. 01 

195, 796. 57 

The amount shown above as due to Corcoran endowment fund 175, 204. 01 

Added to — 

Tangible assets 28,886.70 

Martin embezzlement 13, 774. 21 

Equals the net amount of the Corcoran endowment fund 217, 864. 92 

The general fund is entitled to credit for the following: 

Mar. 5, 1903. Paid on account of Van Ness Park (down money) $1, 000. 00 

Aug. 1, 1903. Mutual Benefit Life Insurance Co., loan paid out of general 
fund 40,000.00 

May 6, 1905. Payment by general fund on account of $62,000 loan on Co- 
lumbian Building 12, 000. 00 

May 17, 1907. Cost of carrying Van Ness Park property from Nov. 4, 1903, 

to date 5.... .....: 31,102.53 

Nov. 3, 1909. Paid American Telegraph & Telephone Co. on account of 
exchange of stock 72. 00 

Dec. 29, 1909. Sundry loans repaid from Dec. 2, 1908, to date 7, 800. 00 

91, 974. 53 

Total amount transferred to the general fund as above 287, 771. 10 

Less credits as above 91) 974. 53 

Total amount due from general fund to Corcoran fund 195, 796. 57 



58 FINANCIAL CONDITION OF GEOEGE WASHINGTON ITNTVERSITY. 
BUILDING, SITE, AND ENLARGEMENT FLND, 

At a meeting of the board of trustees on November 14, 1906 
(Trustees' Records, vol. 6, p. 296), the president presented a report 
containing the following recommendation: 

(c) I recommend that we combine all efforts for raisinc- money under one committee, 
composed of trustees, faculty, alumni, and memorial association members, of ■which 
Prof. Mitchell Carroll shall be chairman, the committee to be under the control and 
direction of the joresident and board of trustees; that an assistant be appointed to take 
charge of Prof. Carroll's classroom work during the present year, he to give his entire 
time to this work, with such clerical work as may be required; that he be paid $1,000 
additional salary per annum; that the efforts to secure subscriptions for the trustees 
fund, the Alumni Building, and the George Washington Memorial Building be 
combined in this scheme; that the memorial association be asked to contribute $1,800 
per annum toward the expenses of this committee and to pay all traveling expenses 
whenever the chairman goes upon the business pertaining to that association; that 
the following "General plan for raising money and its application" be adopted: 

(1) To raise by popular subscription $2,500,000, to be applied as follows: Six hundred 
thousand dollars for the George Washington Memorial Building, to be erected in memory 
of George Washington and to be occupied for university administration, lectures 
upon the political sciences, diplomacy, international law, and boards of arbitration; 
$900,000 for additional grounds, necessary buildings, and educational work, and 
$1,000,000 toward the permanent endowment of the university. 

(2) Upon completion of the 12,500,000 fund, to immediately proceed to raise 
$7,500,000, of which $1,500,000 may be used for necessary buildings and work and 
$6,000,000 for permanent endowment. 

(3) Conditions. — Subscriptions may be paid in cash or in five annual installments, 
the first installment to be payable on or before June 1, 1907, deferred payments to 
bear interest at 4 per cent. All interest upon deferred payments, together with so 
much of the principal not applicable to permanent endowment, may be used as the 
board of trustees shall deem necessary to be applied to the needs and expenses of the 
educational work. The stationery used by the committee shall bear the name of the 
university, with the president's name, and the names of the committee, with Prof. 
Carroll as chairman. 

That subscriptions already made and moneys paid toward any of these funds be 
credited to the general plan; that all buildings hereafter erected by individuals, or 
money contributed for the same or for special purposes covered in the general state- 
ment be also credited to this fund. This will not hinder individual efforts to secure 
money for buildings or endowments or money for scholarships or chairs, as these are 
all covered by the general statement in the plan and can be credited to the fund when 
raised. 

I therefore recommend the adoption and authorization of this plan and the expendi- 
tures required to carry it into effect. 

On motion of Mr. Larner, the board took up the several recom- 
mendations of the president and acted thereon as follows: 

(c) The plan to constitute a committee, with Prof. Mitchell Carroll as chairman, to 
organize and conduct a canvass for raising money for expenses, buildings, additional 
lands, and endowments, was duly considered, and after amendment of the president's 
recommendation declaring that the committee should be under the direct control of 
the president and board of trustees, and that the president's name should appear under 
the name of the university upon all of the stationery used by the committee, it was, 
on motion of Dr. Greene, adopted, and the president was authorized to carry the same 
into effect at once, and to employ such necessary assistant for Dr. Carroll and such 
clerical assistance for the committee as may be required. 

At a meeting of the board of trustees held January 16, 1907 
(Trustees' Records, vol. 6, p. 304), the president presented and read a 
letter from Mr. Levering, dated November 17, 1906, which, after sug- 
gesting that the current expenses be scaled down to the extent of 
$10,000, contains the following: 

My second suggestion is that if the scaling process can result in the saving of 110,000 
the attention of the university authorities be given to the raising of .?40,C00 a year for 
five years to cover current expenses, say, .$200,000, accompanied by the assurance to 
the contributors of such a fund that the university will then live within its income. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 



5& 



p You can then readily see what a stable foundation this would give to the university 
and what a leverage it would give to Prof. Carroll's committee in his effort to raise the 
proposed endowment. * * * 

You will doubtless recall that I offered some time ago $2,000 toward the endowment 
fund on condition that the trustees raise $100,000, but I did not then, nor do I now, 
intend that this contribution should go for expenses. 

I have this, however, to say: That if the scheme I outlined here is feasible and ia 
worked to a successful issue I will be willing to contribute for current expenses |500 a. 
year for five years. 

The president reported that the proposition of Mr. Levering had been duly consid- 
ered by the executive committee, and the committee unanimously reported to the 
board in favor of adopting the proposition. 

In connection with this letter the president also presented a letter from the new 
building fund committee, which, among other things, made the following suggestion ta 
the board: 

"At a meeting of the new building fund committee, authorized by resolution of the 
board of trustees, recently held the conditions connected with the raising of the pro- 
posed endowment of $2,500,000 were fully discussed and the committee unanimously 
decided that the first effort must be directed toward a definite, material object. 
Accordingly, it was decided that the first work of the committee should be to raise 
$200,000 to erect, at the earliest possible date, the first building on the new site, this to 
be devoted to the Columbian College, as this college appeals strongly to local senti- 
ment." 

These letters and the report of the executive committee, together 
with the financial condition of the university, were ifuUy discussed by 
the board, and, on motion of Mr. Macfarland, the following resolution 
was unanim_ously adopted: 

Resolved, That the board hereby approves the recommendation of Mr. Levering in 
his letter of November 17, 1906; and 

Resolved, That the board undertake to raise $200,000, subscriptions to be paid in five 
annual installments, and the proceeds used to meet the annual current expenses and 
such other objects as the board m.ay from time to time determine for the general 
advancement of the university. 

On motion of Dr. Greene, Mr. Edson, Mr. Macfarland, and Mr. Larner were appointed 
the committee charged with raising the deficiency fund of $200,000. 

The letterhead adopted by the committee of which Prof. Carroll 
was chairman was in the following form: 

Committee on buildings and 

endowment. 
Mitcliell Carroll, Chairman. 
Frank L. Day, Secretary. 
Charles W. Holmes, Treasurer. 
Thomas H. Anderson. 
Charles J. Bell. 
E. C. Brandenberg. 
John Joy Edson. 
James H. Gore. 
WiUiam B. King. 
John B. Lamer. 

A. Lisner. 

H. B. F. Macfarland . 
Charles W. Needham. 
Hermann Sehoenfeld. 
John B. Sleman, jr. 
Charles D. Walcott. 

B. H. Warner. 
S. W. Woodward. 
Henry C. Yarrow. 



The Geoege Washington University, 

Washington, D. C. 

Chaexes Wilus Needham, President. 



60 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

The subscription cards in the possession of the treasurer upon which 
payments have been made to this fund, with a few exceptions, read 
as follows: 

The George Washington University, 

Washington, D. C, , 19 — . 

To secure the sum of four hundred thousand dollars to be applied by the trustees 
toward the purchase of grounds and buildings and the enlargement of the educational 
work, and in consideration of the subscription of others, I will pay to the George 
Washington University — dollars in five equal installments, the first install- 
ment to be paid on the first day of July, 1907, the remaining installments payable, 
respectively, on the first day of each succeeding year until all the installments are paid. 
Or will pay in full on . 

(Address) . 



It does not appear from the records of the trustees at tliis time, 
but it is stated by trustees and officers of the university that these 
two committees merged and that the above form of subscription 
card was gotten up by this Joint committee. 

In a pamphlet issued by rrof. Carroll's committee, entitled "Wash- 
ington site fund campaign," the following appears: 

Campaign to raise f 400, 000 in the city of Washington as a site fund for the George Wash- 
ington University. 

The object of the movement in which we are now engaged is that the city of Wash- 
ington may provide the necessary funds for the new site of the George Washington 
University. 

The university has under consideration the Dean property, known as "Oak Lawn," 
at the intersection of Connecticut and Florida Avenues, the price of which is $800,000, 
and also one or two other desirable sites of greater acreage, but about the same value. 

Upon the last page of the pamphlet appears the subscription blank, 
in exactly the same form as that given above. 

No mention is made in this pamphlet of the intention to use any 
of the funds collected for the general expenses of the universit}^. 

At a meeting of the trustees, January 8, 1908 (Trustees' Records, 
vol. 6, p. 363)— 

The report of Dr. Mitchell Carroll as chairman of the committee on site, buildings, 
and endowments was presented by the president, and his resignation accepted as of 
December 31, 1907. 

In this report Prof. Carroll says : 

1. Since there is no possibility of doing effective work at this time owing to the 
financial stringency and the indefiniteness regarding the site to be selected, I beg to 
recommend that the services of the committee be discontinued January 1, 1908, 
together with all expenses incident to the campaign, including the salary of the chair- 
man. It may be advisable, however, to hold the organization together until it is 
possible to renew the local campaign, when I desire a change of leadership. If you 
request it, I am willing to serve in this nominal capacity until a change can be made 
without injury to the cause we have so deeply at heart. 

2. I find there is considerable restlessness among subscribers owing to the present 
situation. To meet this, I think a personal letter from the president should be sent 
to each subscriber shortly after the meeting of the board, giving assurances that 
subscriptions will be devoted to the object intended and that the new site will be 
selected in the not too distant future. 

All the subscriptions to this fund appear to have been made during 
the year 1907. I\Iost of them after it liad been decided to sell Van 
Ness Park on February 16, 1907. 

Up to December 31, 1907, as of which date the resignation of Prof. 
Carrol] as chairman was accepted, there had been collected from 
subscribers to this fund the sum of $23,009.34, and from subscribers 



FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVEESITY. 61 

to the ''Trustees' fund of 1905" and credited to this fund the sum 
of S600, and interest had been received (on bank balances) amounting 
to $145.98, making a total of $23,845.32. From this the following 
had been paid: 

Salaries of Prof. Carroll, his assistants, and clerks $1, 984 45 

Postage 335. 10 

Printing 990. 73 

Stationery 9. 60 

Hotels for expenses of dinner and luncheons at public meetings in connec- 
tion with securing subscriptions 689. 85 

Miscellaneous expenses of committee 234. 30 

R. T>. Harlan, salary 1, 874. 97 

R. D. Harlan, commission 5 per cent on $2,770 collected for this fund 138. 50 

R. D. Harlan, traveling expenses, stenographer, etc 983. 00 

Total 7, 240. 50 

The collections for account of this fund had been placed in the 
same bank account with the $200,000 realized from the sale of Van 
Ness Park belonging to the Corcoran endov/ment fund. 

From these moneys thus mingled certain investments and loans 
to the general fund were made, which are explained in this report 
under the head of the Corcoran endowment fund. 

At the time of the acceptance of the resignation of Chairman Car- 
roll, the unexpended balance so mingled with the Corcoran endow- 
ment fund amounted to $16,604.82. Since that date payments have 
been made by subscribers amounting to $11,958.84, and interest has 
been received on bank balances amounting to $292.93, and the fol- 
lowing payments have been made out of the fund: 

R. D. Harlan, salary $5,416.58 

R. D. Harlan, commission on collections on account of the college of polit- 
ical sciences 781 50 

R. D. Harlan, traveling expenses, stenographer, etc 2, 406. 00 

R. D. Harlan, postage 197.50 

8, 801. 58 

Dr. Richard D. Harlan was appointed on April 1, 1907, as the 
special representative of the umversity. In the printed literature 
his name appears as special representative of the so-called "George 
Washington University movement." It is stated that his duties 
are to assist the president in enlarging and developing the institu- 
tion. In addition to his other work in connection with the develop- 
ment of the university. Dr. Harlan has secured $2,770 for the build- 
ing, site, and enlargement fund, and the following subscriptions to 
the sustention fund for the college of the political sciences, payable 
in annual installments during a period ending with 1912: 

Unconditional subscriptions |37, 230 

Subscriptions conditioned on raising $125,000 9, 000 

46, 230 

Of this sum $17,230 has been received in cash, the balance of the 
unconditional subscriptions being payable during the years 1910, 
1911, and 1912. 

Dr. Harlan's total compensation and expenses have been paid 
out of the building, site, and enlargement fund, while the money 
raised by him, with the exception of the $2,770 above mentioned, 
has gone to the college of the political sciences. Since March 1, 



62 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

1910, his salary has been paid out of the general expense account, 
the bank balance of the building, site, and enlargement fund having 
been exhausted. The details of Dr. Harlan's appointment are shown 
in the letters, copies of which are hereto annexed, marked Exhibits 
A, B, and C. 

At a meeting of the board of trustees held May 7, 1908 (Trustees' 
Records, vol. 6, p. 379), President Needham in his report to the 
trustees said: 

There haa been used for general expenses and for investment in the Corcoran fund, 
from the "building, site, and endowment fund," the sum of $13,591.32. This the 
committee believes should be restored and used only for the expenses of the campaign 
in raising money, and for a site when the university shall purchase a site. 

All the references in the Records of the Trustees to this fund speak 
of it as the building, site, and endowment fund, the word ''expan- 
sion" not appearing except in the treasurer's reports until the meeting 
of the trustees October 13, 1909, In the president's report, sub- 
mitted that day (Trustees' Records, vol. 6, p. 522), he made the 
following recommendation: 

That the subscribers to the building, site, and endowment fund be immediately 
asked to transfer their subscriptions, so as to make them applicable to the payment of 
current expenses, and that new subscriptions be solicited. 

The minutes of that meeting show the following action by the 

trustees : 

The recommendation of the president with regard to the building, site, and expan- 
sion fund that he would accompany members of the board of trustees in calls upon 
the subscribers to that fund to arrange for the transference of such funds to the general 
expenses of the university was adopted. 

At this meeting a letter was read from a subscriber to this fund, 
wliich is as follows : 

Having agreed to pay $300 toward purchasing a site and building, and already paid 
f 60 of it, I respectfully ask the return of the $60 until such time as a site is selected 
and proof that the buildings will be started, when I will send in my check for $300 in 
full. 

The secretary was instructed to answer the letter declining the request and stating 
why the money asked for could not be returned. 

No collections have been made on act.ount of subscriptions for 
some time. Some of the subscribers have refused to pay anytliing, 
and others, having paid part of their subscriptions, have refused to 
pay the balance, some for the reason that the money was being used 
for general expenses, others for the reason that no progress had been 
made in the selection of a site. 

Pursuant to the request of the president of the universit}^, the execu- 
tive and finance committees of the board of trustees met in the office 
of the president Wednesday, March 16, 1910, at 2.30 in the afternoon. 

There were present the president of the university, Mr. Macf arland, 
chairman, presiding ; Mr. Larner, Mr. Snow, Mr. Perldns, and Mr. Lisner, 
the treasurer of the university, and the secretary of the university. 

The president stated the purpose of the meeting to be the prepara- 
tion of a letter by the executive committee which should embody 
the conclusion reached by the board of trustees at the meeting, 
March 14, 1910, regarding the subscriptions to the building, site, and 
expansion fund. 

Considerable discussion arose as to the wisdom of sending such 
letter to the subscribers instead of a personal interview. It was 



FINA:NCIAL CONDITIOISr of GEOEGE WASHIjSTGTON univeesity. 63 

finally thought advisable to send a letter and follow it by a personal 
interview. 

On motion of Mr. Snow the following resolution was adopted : 

Resolved, That the secretary be directed to send a letter in the following form to all 
subscribers to the building, site, and expansion fund who are not connected with the 
university as trustees, members of faculty, or students, and who have not yet paid their 
subscriptions or who have not made subscriptions on other terms, whichought justly to 
be regarded as relieving these subscriptions, the secretary being authorized to vary 
this form of letter to suit the circumstances. 

The following form of letter as proposed by Mr. Snow was thereupon 
adopted, and it was decided that the sending out of the letters be 
done as quickly as possible, and extra, oftice help was authorized for 
this purpose. 

The Geokge Washington University, 

Office op the Secretary, 
Washington, D. C, March 17, 1910. 
Dear Sir: By direction of the executive committee of the board of trustees I beg to 
call your attention to your subscription for university purposes and to the interpreta- 
tion thereof by the board of trustees. The subscription reads as follows: 

"The George Washington University, 

"(Give date). 
"To secure the sum of $400,000 to be applied by the trustees toward the purchase of 
grounds and buildings, and the enlargement of the educational work, and in considera- 
tion of the subscriptions of others, I will pay to The George Washington University 

dollars in five equal installments, the first installment to be paid on the 1st day 

of July, 1907, the remaining installments payable, respectively, on the 1st day of July 
of each succeeding year until all installments are paid. Or will pay in full on . 



Upon this subscription you have paid dollars. 

At a meeting of the board of trustees of the university held on Monday evening 
last, March 14, it was determined, after full discussion, that a just interpretation of 
this subscription is as follows: 

1. That the subscriptions made on the above form were not conditional on the 
raising of $400,000 or any other definite sum. 

2. That the amount paid on such subscriptions should be carried, one-half to the 
building and site fund, the principal to be kept intact and the income to accumulate 
until new buildings or a new site are determined upon; and that the remaining one- 
half should be carried to current expenses and applied to enlarge the educational 
work of the university. 

These conclusions were reached on the following grounds: 

1. That, though when the subscriptions were made a particular site was under 
discussion, it was the understanding of all concerned that other sites and other build- 
ings than those then proposed might be finally decided upon by the trustees. 

2. There were two committees, one of which was attempting to raise a fund of 
$200,000 for buildings and site, and the other to raise a fund of $200,000 for current 
expenses for the enlargement of the educational work. These two committees united 
their efforts and prepared the form of subscription which you signed. 

I am also instructed by the executive committee to say that in view of the fact 
that the maintenance of the university on the present standard requires a greater 
sum for annual current expenses than the amount of the annual receipts, it would 
be of great benefit to the university if you would change your present subscription 
80 as to subscribe the same amount, dollars, payable in three annual install- 
ments, to be used to meet the expected deficit for the current year and for the next 
two years, your present subscription of course to be canceled upon receipt of such 
new subscription. 

I am further instructed to say that it is expected that a member of the board of 
trustees or an officer of the university will call upon you in regard to this matter. 
Very respectfully, 

Secretary of ike University. 

It was suggested by Mr. Lisner that as far as possible members 
of the board by twos should endeavor to divide up the list of large 
subscribers and see them as quickly as possible, in order that if 



64 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

their consent be gained to the apphcation of their subscriptions to 
current expenses that the sum so procured might be used to meet 
the requirements of the treasurer's office on April 1. 

At a meeting of the executive committee August 11, 1910: 

The chairman of the executive committee reported that there had been question 
as to the validity of the subscriptions to the $400,000 building, site, and expansion 
fund, and on consideration it was on motion 

Resolved, That it be recommended to the board of trustees that all subscriptions to 
that fund be canceled. 

The total amount collected from subscribers amounts to S35,568.18, 
classified as follows: 

Trustees (including $600 subscribed to trustees' fund) $2, 085. 00 

Faculty 3, 635. 70 

Alumni 1, 678. 00 

Students 964. 98 

Citizens 27, 204. 50 

Total 35, 568. 18 

The following summary will show the condition of the fund : 

RECEIPTS. 

Amount collected from subscribers through efforts of committee up to 

December 31, 1907 |20, 239. 34 

Amount collected from trustees on account of subscriptions to trustees' 
fund, transferred to this fund 600. 00 

Amount collected through efforts of R. D. Harlan, special representa- 
tive 2, 770. 00 

Amount received by treasiu-er since December 31, 1907, on subscriptions 
obtained by committee 11, 958. 84 

Amount received for interest on bank balances 438. 91 

36, 007. 09 

DISBURSEMENTS. 

Salaries of Chairman Carroll, his assistants, and clerks $1, 984. 45 

Postage for committee 335. 10 

Printing 990. 73 

Stationery 9. 60 

Hotels for expenses of dinner and luncheons 689. 85 

Miscellaneous expenses of committee 234. 30 

R. D. Harlan: 

Salary $7, 291. 55 

Commission, 5 per cent on $2,770 collected for this fund.. 138. 50 
Com^mission, 5 per cent on |15,630 collected for college of 

political sciences 781. 50 

Traveling expenses, stenographer, etc 3, 389. 00 

Postage 197.50 

11, 798. 05 

Total expenditm-es 16, 042. 08 

Balance mingled with Corcoran endowment fund in the purchase of 
investments and in loans to general fund 19, 965. 01 

36, 007. 09 

EXHII.<IT A. 

[Copy of a copy of a letter from Chas. W. Needham to R. D. Harlan. Original in "Letters B— executive 
g. committee and board of trustees, March 7, 1905, to — ," p. 287.] -,; 

March 25, 1907. 
Dear Dr. Harlan: You have already learned something of the comprehensive 
plans that have been formed by the trustees and faculties and friends of the George 
Washington University, looking toward the early realization of the statesmanlike ideal 
for a great national university at the capital of the nation which was placed before the 
American people by George Washington himself in his last will and testament. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 65 

To do this we must have a new, ample, and commanding site, suitable buildings, 
and a munificent endowment. It has already been proved that there is among the 
citizens of the capital sufficient public spirit to provide a splendid site for an institu- 
tion that is trying to show itself worthy of bearing the illustrious name of Washington. 

But this is far more than a local enterprise, and this leads me, on behalf of our 
trustees, to make a suggestion which I hope will meet with your approval; it is that 
you join with us in bringing to the attention of patriotic men and women throughout 
the land the importance of developing, at the capitol of the nation, a truly national 
university. Will you not join us in helping to bring such an inspiring plan to the 
attention of the American people? 

I have been glad to learn that you expect to remain in the work of education; but 
while sojourning temporarily in Washington could you possibly perform a greater 
and more far-reaching service to education than by exerting, for a time, the best 
efforts in your power in helping to accomplish the large ends we have in view for the 
George Washington University? With the valuable experience you have had in col- 
lege work and the knowledge you have acquired of the educational needs of the 
American people, and your wide acquaintance in different parts of the country, we 
believe that you can be of great assistance to us. 

I make this suggestion the more readily because your distinguished father so many 
years has been connected with the law department of our university and has the 
success of the present movement much at heart. 

Hoping to hear favorably from you, I am. 

Sincerely, yours, Chas. W. Needham. 

Rev. Richard D. Harlan, D. D. 

EXHIBIT B. 

[ Copyof a letter written by Chas. W. Needham to Rev. R. D. Harlan, D. D. Original in" Letters execatlTe 
committee and board of trustees, March 7, 1905, to — . " B — .] 

April 4, 1907. 

Dear Dr. Harlan: I am pleased to inform you that at the meeting of the execu- 
tive committee you were appointed to represent the university movement in solicit- 
ing funds for the university, pursuant to my former letter of appointment of March 25, 
and your compensation was fixed at the rate of $2,500 per annum, beginning April 
1, 1907, together with your traveling expenses, accounts to be approved by the treas- 
urer, and in addition sums equal to the following percentages upon moneys collected 
by you and paid in to the treasurer as a result of your personal canvass and efforts: 

Five percent upon all sums paid in up to $100,000; 4 percent upon all sums paid 
in above $100,000 up to $1,000,000, and 2 per cent upon all sums above $1,000,000; 
percentages at the above rates to be paid as moneys are received by the treasurer of 
the university. 

As you requested, this appointment is to be considered as temporary and may be 
concluded by either party upon reasonable and due notice. 

I wish to say again that it is a very great pleasure to have you associated in this work. 
Sincerely, yours, 

Chas. W. Needham. 

Rev. Richard D. Harlan, D. D. 

exhibit c. 

[Copy of a copy of a letter from Chas. W. Needham to R. D. Harlan. Original copy in "Letters B. — , execu- 
tive committee and board of trustees, March 7, 1905, to — ," p. 463.] 

November 13, 1908. 
. Dear Dr. Harlan: I am pleased to inform you that at the meeting of the board of 
trustees Tuesday evening your letter to me, dated November 9, which I referred to the 
committee of which Mr. MacFarland is chairman, was favorably reported to the 
board by the committee and the suggestions made in your letter were adopted by the 
board. This therefore modifies the present arrangement as follows: 

(1) Your engagement with the university to continue until August 31, 1909. '■ 

(2) That if the board desires to continue your connection with the university after 
August 31, 1909, it will make a proposition to you on or before April 1 next. 

(3) The payments to be made you hereafter will be on a salary basis, the salary to 
be fixed from time to time by the executive committee so as to cover the salary now 
being paid you and an additional amount equal to 5 per cent upon all sums paid in to 
the treasurer up to $100,000, 4 per cent upon all sums paid in above $100,000 up to 

68966— H. Doc. 1060, 61-3 5 



66 FINANCIAL CONDITIOiSr OF GEORGE WASHINGTON UNIVERSITY. 

$1,000,000, and 2 per cent upon all sums above $1,000,000, which you would have 
been entitled to under an arranj^ement stated in my letter to you of April 4, 1907. 

It gives me pleasure to have this matter so satisfactorily arranged, and I trust that 
you may soon begin to reap a large harvest from your excellent sowing. 
Sincerely, yours, 

Chas. W. Needham. 
Dr. Richard D. Harlan. 

ELEANOR J. COOPER BEQUEST. 

The late Eleanor J. Cooper by her wall provided as follows: 

Third. I give, devise, and bequeath the sum of $10,000 in trust to the medical 
department of the Columbian University of Washington, D. C, to be invested, the 
interest to be devoted to the investigation of the nature of the malarial poison arisir^ 
from sewer gas and antidote thei'eof ; to be perpetual. 

This will was contested by relatives, and finally an offer was made 
to settle the contest provided the university would agree to accept 
87^ per cent of the legacy in full settlement. At a meeting of the 
executive committee, held February 2, 1905 (Records of the Execu- 
tive Committee, vol. B, p. 194), this offer was accepted. On 
October 13/ 1905, the university received from the estate of Eleanor 
J. Cooper the sum of $8,750. On November 2, 1905, the university 
made the following investments: 

$5,000 Chicago, Rock Island & Pacific 5 per cent bonds $4, 618. 75 

$5,000 Chicago, Rock Island & Pacific collateral trust 4 per cent bonds 4, 118. 75 

8, 737. 50 

On December 27, 1902, the balance of $12.50 was loaned to the 
general fund. On March 12, 1910, the $5,000 Chicago, Rock Island 
& Pacific 5 per cent bonds were sold at 105 and accrued interest, 
reaUzmg $5,229.17. 

On March 25, 1910, the university invested in note of Thomas R. 
Marshall $5,000, secured by deed of trust, and note of Lewis Spectre, 
$200, secured in like manner. The balance of $29.17 is on deposit in 
bank to the credit of trust funds. 

The following statement will show^the condition of the fund : 

Cash received from estate of Eleanor J. Cooper $8, 750. 00 

Interest on Rock Island 4 per cent bonds due Nov. 1, 1905 100. 00 

Interest on Rock Island 5 per cent bonds due Mar. 1, 1906 125. 00 

Interest on Rock Island 4 per cent bonds due May 1, 1906 100. 00 

Interest on Rock Island 5 per cent bonds due Sept. 1, 1906 125. 00 

Interest on Rock Island 4 per cent bonds due Nov. 1, 1906 100. 00 

Interest on Rock Island 5 per cent bonds due Mar. 1, 1907 125. 00 

Interest on Rock Island 4 per cent bonds due May 1, 1907 100. 00 

Interest on Rock Island 5 per cent bonds due Sept. 1, 1907 125. 00 

Interest on Rock Island 4 per cent bonds due Nov. 1, 1907 100. 00 

Interest on Rock Island 5 per cent bonds due Mar. 1, 1908 125. 00 

Interest on Rock Island 4 per cent bonds due May 1, 1908 100. 00 

Interest on Rock Island 5 per cent bonds due Sept. 1, 1908 125. 00 

Interest on Rock Island 4 per cent bonds due Nov. 1, 1908 100. 00 

Interest on Rock Island 5 per cent bonds due Mar. 1, 1909 125. 00 

Interest on Rock Island 4 per cent bonds due May 1, 1909 100. 00 

Interest on Rock Island 5 per cent bonds due Sept. 1, 1909 125. 00 

Interest on Rock Island 4 per cent bonds due Nov. 1, 1909 100. 00 

Sale of $5,000 Rock Island 5s 5, 125. 00 

Interest accrued to date of sale 104. 17 

Interest on Rock Island 4 per cent bonds due May 1, 1909 100. 00 

Interest on Marshall note to May 5, 1910 125. 00 

16, 104. 17 



FINANCIAL. CONDITION OP GEORGE WASHINGTON UNIVEESITY. 67 

Paid for purchase Rock Island 5 per cent bonds $4, 018. 75 

Paid for purchase Rock Island 4 per cent bonds 4, 118. 75 

Paid for Marshall and Spectre notes 5, 200. 00 

Paid fo3- accrued interest Marshall and Spectre notes at time of purchase. 98. 67 

Loaned to general fund 12. 50 

Carried to the credit medical department 1, 900. 00 

Balance on deposit trust fund account 29. ] 7 

Balance on dei)Osit endowment income account 126. 33 

16, 104. 17 

Amount of bequest 8, 750. 00 

Profit on bonds sold ' 506. 25 

Net income received 2, 130. 50 

11,386.75 

Cost of Rock Island 4 per cent bonds , 4, 118. 75 

Cost of Marshall mortgage note 5, 000. 00 

Cost of Spectre mortgage note 200. 00 

Income transferred to medical department 1, 900. 00 

Due from general fund 12. 50 

Deposit in trust fund account 29. 17 

Deposit in endowment income account 126. 33 



11, 386. 75 

There has been no record kept which would show the expenditures 
by the medical department of the university in the investigation of 
the nature of the malarial poison arising from sewer gas and the anti^ 
dote thereof. It appears that Dr. John H. Lindsey, who was con- 
nected with the medical department as assistant professor of clinical 
medicine, at a salary of $1,800 per annum, was assigned to conduct 
this investigation. He was connected with the university from 
March 1, 1906, until June, 1909, and made three reports on the sub- 
ject. Dr. Lindsey says in reply to a written request for information: 

It is difficult for me to estimate the amount of time spent on these reports. No 
special time was allotted me for the work, which was done at intervals over extended 
periods. The work required considerable time for library research, for copying and 
original translation from the French, and (by the artist) for illustrating. 

During the scholastic year 1909-10 the subject was assigned to 
Maj. F. F. Russell, United States Army (retired), professor of bac- 
teriology and pathology, who prepared a report of the result of his 
investigation. Maj. Russell's salary was $1,200 per annum. 

In the absence of any further information it has been impossible 
to estimate the amount of the expenditures by the medical depart- 
ment in ' ' the investigation of the malarial poison arising from sewer 
gas and antidote thereof." 

DENMAN BEQUEST. 

Hampton Y. Denman, in his last will, dated February 28, 1901, pro- 
bated April 28, 1904, bequeathed as follows: 

(5) To the Columbian University, in the city of Washington, in the District of Colum- 
bia, for the use and benefit of the law department of said university, I give and be- 
queath the sum of $10,000. 

(Executive Committee Records, vol. B, p. 118, Feb. 2, 1904.] 

The executive committee authorized the execution of a compromise 
agreement by the terms of which the estate was to be divided among 
the heirs of Hampton Y. Denman and the legatees under the will in 
certain proportions as therein set out. 



68 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVEESITY. 

In accordance with the terms of this agreement, the following sums 
have been received from the Denman estate in lieu of the bequest of 
$10,000: 

July 8, 1904 $5, 767. 85 

Dec. 23, 1904 133. 31 

June 6, 1905 ^ 1, 347. 96 

Nov. 20, 1905 277. 41 

Feb. 25, 1907 572. 21 

Feb . 26, 1907 80. 58 

Total 8, 179. 32 

All of these sums when received were put in the general fund and 
used for current expenses. 

NATIONAL PARK SEMINARY ENDOWMENT, 

On June 28, 1906, there was received from the National Park 
Seminary the sum of $500 for the endowment of a bed in the univer- 
sity hospital, which was mingled with moneys belonging to the 
Davis prize fund, building site and enlargement fund, and the Corcoran 
endowment fund in the purchase of securities and investment in the 
property at 1710 N Street. 

From the securities thus purchased there was set aside in the annual 
reports and on the books of the university a $500 interest in a $1,000 
4 per cent refunding bond of the Chicago, Rock Island & Pacific Rail- 
way Co., and one-half of the interest of such bond has been credited 
to hospital account. 

This fund is therefore entitled to receive the full sum of $500 from 
the proceeds of the Rock Island bond when sold. 

THE GARDINER G. HUBBARD MEMORIAL PRIZE IN AMERICAN HISTORY. 

This prize was established by Mrs. Gertrude M. Hubbard in memory 
of her husband, the late Gardiner G. Hubbard. The principal, which 
consists of a $1,000 Austin Coal & Coke Co. 5 per cent consoUdated 
mortgage bond, was delivered by the donor to Charles J. Bell, presi- 
dent of the American Security & Trust Co., and is held by him, and the 
income each year has been paid annually to a student of the gradu- 
ating class who has during four years maintained a high standing in 
the classes in American history and has produced the best essays upon 
subjects based upon a study of some assigned period of American 
history. 

[Vol. 6, Trustees' Records, p. 352, Oct. 16, 1907.]! 

The president presented the following statement of a memorial prize in American 
history, the gift of Mrs. Gertrude M. Hubbard, "The Gardiner G. Hubbard memorial 
prize in American history:" 

The Gardiner G. Hubbard memorial prize in American history was founded by 
Mrs. Gertrude M. Hubbard, in memory of her husband, the late Gardiner G. 
Hubbard, some time trustee in the university. The endowment consists of a fund 
of $1,000, the income from which is awarded annually to the student in the under- 
graduate departments of the university who, having maintained throughout four 
years a high standing in the classes of American history, may be required to present 
the best essay upon an assigned topic in American history. 

The offer of Mrs. Hubbard was accepted upon the conditions and terms named. 



niSrAISrCIAL condition of GEOKGE WASHINGTOISr UNIVERSITY. 69 

The principal of this endowment has never passed into the pos- 
session of the university. The income each year has been collected 
by the professor of history from Charles J. Bell and by him paid to the 
student entitled to the prize. 

CHAPMAN DEVISE. 

Susannah A. Chapman by her last will, dated March 8, 1905, pro- 
bated November 10, 1906, after giving two legacies of $1,000 each to 
William S. Odell and to Marie Odell, provided as follows: 

All the rest, residue, and remainder of my property and estate, real and personal, 
wheresoever and howsoever situated, now owned or niay hereafter be acquired by me, 
I give, devise, and bequeath, absolutely and in fee simple, as follows: 

First. Unto the Metropolitan Presbyterian Church of this city I give and bequeath 
<3ne-half thereof to be devoted by it for the benefit of the poor of the church; and 

Second. The remaining one-half of the residuum of my estate I give, devise, and 
bequeath unto the George Washington University, of said city, to be used for the 
purposes of the free wards of its university hospital. 

The estate consisted of a frame house in Hyattsville, Md., renting 
for $18.50 per month; a vacant lot in Hyattsville worth approxi- 
mately $150, and about $2,500 in personal property. 

The estate is yet unsettled, and the executors, the Washington Loan 
& Trust Co., have been acting as agents in caring for the real estate. 
No funds have been received by the university from this company, 
either as executor or agent, although the university holds title to one- 
half the real estate in Hyattsville for the purpose set forth in the will. 

WOODBURY BEQUEST. 

The will of the late Ellen C. de Q. Woodbury, dated June 19, 1906, 
probated November 17, 1909, directs that certain choses in action 
belonging to the decedent which should be, at the time of her decease, 
noted in a certain account book therein mentioned and described, 
should be divided by her executors, as far as practicable in kind, at 
their market value at the time of distribution, among the following 
institutions : 

1. The Home for Incurables. 

2. The National Homeopathic Hospital. 

3. The George Washington University, of the said District, for the reception and 
treatment of female patients by the hospital belonging to or connected with the said 
university. 

4. The Aid Society for the Blind. 

5. The Woman's Hospital (New York City). 

6. The New York Woman's Medical College and Hospital. 

It appears that the executors hold for distribution municipal and 
railroad" bonds of the face value of $35,500 and notes of the face 
value of $22,000. 

No distribution of the estate has been made and no funds have been 
received by the university. 

MOUNT VERNON ALCOVE LIBRARY FUND. 

This fund is made up of a number of contributions collected by 
Mrs. Margaret M. Harlan, wife of Rev. R. D. Harlan, D. D., for the 
purpose of purchasing books for the library for the college of political 



70 FINANCIAL CONDITION OF GEOKGE WASHINGTON UNIVEESITY. 

sciences. It appears that Mrs. Harlan made deposits at the National 
Metropolitan Bank, of Washington, D. C, to the credit of an account 
styled "The Mount Vernon alcove," as follows: 

Jan. 15, 1908 $48. 00 

Feb. 4, 1908 545.05 

Feb. 26, 1908 238.00 

Mar. 3, 1908 55.00 

Mar. 14, 1908 40.00 

Apr. 3, 1908 36.00 

May 22, 1908 23.00 

Apr. 20, 1908 1,021.00 

June 4, 1908 71. 45 

2, 077. 50 

The power to sign checks against tliis fund was vested in either 
Mrs. Margaret M. Harlan, Charles W. Needham, or Charles W. Holmes. 

In addition to these deposits there have been two sums received 
by the treasurer for the university from Mrs. Harlan and deposited 
by him in the account, one of $15 on January 11, 1909, and one of 
$2 on February 4, 1909. From this fund the following payments 
have been made: 

Ricliard D . Harlan, for expenses in collecting the fund |40. 00 

To various parties for purchase of books for library and freight and express 

charges on same 1, 736. 89 

1, 776. 89 

The balance, amounting to $317.61, remains on deposit in the 
National Metropolitan Bank to the credit of the Mount Vernon 
alcove. 

In volume 6 of Trustees' Records, page 378, it appears that President 
Needham reported to the board of trustees on May 7, 1908, as follows: 

I wish to make special mention of the sum of $2,049.50 that has been raised by Mrs. 
Richard D . Harlan for the Mount Vernon alcove in the library of the college of the polit- 
ical sciences. Of this fund, $1,000, contributed by Mr. Carnegie, I recommend should 
be invested as an endowment for the library of the college, and the balance be used 
immediately for the purchase of books for the college. This use of the funds is in 
strict accordance with the terms upon which the contributions have been made. 

The trustees at this meeting accepted the money, passed a vote of 
thanks to Mrs. Harlan, and directed that a space be provided for the 
reception of the library, but took no action upon the recommendation 
of President Needham that the contribution of Mr. Carnegie be 
invested as an endowment. 

A communication directed to Mrs. Harlan inquiring if the con- 
tribution of $1,000 made by Mr. Carnegie was given b}^ him with the 
understanding that the $1,000 was to be invested as an endowment 
remains unanswered. President Needham, however, states that 
when the contributions were collected by Mrs. Harlan she made no 
statement that the money was given by Mr. Carnegie as an endow- 
ment, and that the idea of so investing it was entire!}^ original with 
him, Dr. Needliam, and that there exists no good reason why the 
whole of the fund should not be used for the purchase of books. 

No part of the fund appears to have been used for the general 
expenses of the university, and therefore no amount is due to the 
fund from the general fund. 



FINAL REPORT OF INVESTIGATION OF THE FINANCIAL AFFAIRS 
OF THE GEORGE WASHINGTON UNIVERSITY, WASHINGTON, 
D. C. 



By Nelson B. Keyser, 
Special Bank Accountant, Bureau of Investigation, Department of Justice. 



NOVEMBEE 15, 1910. 

Sir: I have the honor to submit the following report of the result 
of my investigation of the financial affairs of the George Washington 
University, in compliance with your instructions conamunicated 
through the Chief of the Bureau of Investigation on April 27, 1910^ 

Two preliminary reports have already been made in this investi- 
gation, one by Special Bank Accountant Sherrill Smith and myself, 
under date of May 17, 1910, and one by Special Bank Accountant 
Walter Lewis and myself, giving the history and financial condition 
of the various endowment, scholarship, prize, and other trust funds,' 
which was submitted under date of August 20, 1910. 

This institution was originally chartered by act of Congress ap- 
proved April 9, 1821 (Stat. L., vol. 6, pp. 255-258), under the title 
of "The Columbian College in the District of Columbia." 

Section 1 of said act is as follows : 

That there be erected, and hereby is erected and established, in the District of 
Columbia, a college for the sole and exclusive purpose of educating youth in the 
English, learned, and foreign languages, the liberal arts, sciences, and literature, the 
style and title of which shall be, and hereby is declared to be, "The Columbian 
College in the District of Columbia." 

In section 2 it is provided that — 

The said trustees and their successors shall be competent and capable,_ at law and in 
equity, to take to themselves and their successors, for the use of the said college, any 
estate, in any messuage, lands, tenements, hereditaments, goods, chattels, money, 
and other effects, by gift, grant, bargain, sale, conveyance, assurance, will, devise, or 
bequest, of any person or persons whatsoever: Provided, The same do not exceed in 
the whole, the yearly value of twenty-five thousand dollars; and the same messuages,* 
lands, tenements, hereditaments, and estate, real and personal, to grant, bargain, sell, 
convey, assure, demise, and to farm let, and place out on interest, for the use of the 
said college, in such manner as to them, or at least nine of them, shall seem most 
beneficial to the institution, and to receive the rents, issues, and profits, income, and 
interest of the same, and to apply the same to the proper use and benefit of the said 
college. 

Section 7 is as follows : 

That persons of every religious denomination shall be capable of being elected 
trustees; nor shall any person, either as president, professor, tutor, or pupil be refused 
admittance into said college or denied any of the privileges, immunities, or advantages 
thereof for or on account of his sentiments in matters of religion. 

71 



72 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

Section 10 is as follows: 

That it shall be the duty of the said board of trustees to keep a regular book or journal 
in which shall be entered, under their direction, besides an account of all their ordi- 
nary acts and proceedings, all the by-laws, ordinances, rules, and regulations which 
may be adopted by the said board for their ovm. government and for the government 
of the institution; also a schedule of all the property and effects, real, personal, or 
mixed, which shall or may be vested in the said trustees, for the use of the said college, 
by virtue of any gift, grant, bargain, sale, will, or otherwise, together with annual state- 
ments concerning the accounts and finances of the institution. That it shall, more- 
over, be the duty of the said trustees to cause to be em-olled in the said book or jour- 
nal the names of all the contributors to the institution qualified to vote for trustees, 
with their respective places of residence; and the said book or journal shall at all 
times be open to the inspection or examination of the Attorney General of the United 
States; and, when required by either House of Congress, it shall be the duty of said 
trustees to furnish information respecting their own conduct, the state of the institu- 
tion and of its finances, which shall or may be so required. 

Section 12 is as follows: 

That the employment or application of the funds or income of the said corporation, 
or any part thereof, for any purpose or object other than those expressed and defined 
in the first section of this act, or the investment thereof in any other mode than is 
described and provided in the second section thereof, shall be deemed and taken to 
be a forfeiture of all the rights and immunities derived from this act, and the same 
shall thenceforth cease and become null and void. 

By an act of Congress approved July 14, 1832, it was enacted as 
follows : 

That there shall be, and hereby are, granted to the Columbian College, in the Dis- 
trict of Columbia, lots in the city of Washington to the amount in value of twenty-five 
thousand dollars; which said lots shall be selected and valued by the commissioner 
of the public buildings when requested by the trustees of the said college; and when 
the said lots shall be so selected and valued, the same shall be vested in the said cor- 
poration in fee simple, to be by them held and disposed of in the manner foUoAving — 
that is to say: The said corporation, by proper and lawful act or acts, under their 
corporate seal, shall sell and dispose of the said lots, as soon as reasonably practicable, 
for the best price or prices they can obtain, and shall vest the proceeds of the same 
in some public stock or in stock of some incorporated bank. 

Sec. 2. That when the lots aforesaid shall be selected and valued as aforesaid, 
the said commissioner shall make return of the numbers and description thereof to 
the clerk of the circuit court of the county of Washington, to be by him recorded 
among the records of land titles in the said county. 

Sec. 3. That the proceeds of the sales aforesaid, so to be vested, shall not be other- 
wise used by the said trustees than as a capital, to be by them forever hereafter kept 
vested as aforesaid ; and the dividends or interest therefrom accruing shall, by them, 
be used and applied in aid of the other revenues of the said college, to the establish- 
ment and endowment of such professorships therein as now are, or hereafter shall be, 
established by the said trustees, and to and for no other purpose whatever. 

The lots granted under this act form the basis of the "congressional 
endowment" treated in the special report on the endowment funds. 

By an act of Congress approved February 28, 1839, it was enacted 
as follows: 

That the corporation of the Columbian College be, and hereby is, authorized to sell 
so many of the city lots, granted to said corporation by the act to which this is supple- 
mental, as shall be sufficient to raise the sum of seven thousand dollars, and to apply 
the proceeds of such sale to the payment of debts due fi-om said corporation, anythmg 
in the act to which this is supplemental to the contrary notwithstanding. 

By an act of the Legislative Assembly of the District of Columbia 
approved July 25, 1871, it was enacted as follows: 

Sec. 1. That the Columbian College, in the District of Columbia, chartered by 
and organized and acting under the act of Congress approved February nine, 
eighteen hundred and twenty-one, may, from the proceeds of any sale of its property, 
apply such sum as may be needful to pay its present indebtedness and place its 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 73 

libraries, buildings, and apparatus of instruction in good condition, and execute 
all deeds needful to quiet the title of property already sold. 

Sec. 3. That the said trustees shall meet in the law building of said college at 
noon on the twenty-fifth day of June, eighteen hundred and seventy-two, for the 
purpose of choosing, and shall then and there, or at the time and place to which said 
meeting may be adjom-ned, elect thirteen trustees and thirteen overseers, who shall, 
upon then- election, constitute the college corporation, and they and their successors 
shall thenceforward be, and be known and recognized as, the Columbian College 
in the District of Columbia. 

Sec. 6. That during the interval between said annual meetings the trustees shall, 
as now, hold semiannual, quarterly, monthly, and occasional meetings to fill tempor- 
arily, as the case may require, vacancies in the faculty or in their own board, and 
with all their present powers as modified by this act, subject to the ordinances and by- 
laws of the corporation; but no real estate or other property of said corporation shall, 
after the twenty-fifth day of June, eighteen hundred and seventy-two, be disposed of 
by the trustees except by vote of the corporation or in pursuance of its ordinances. 

By an act of Congress approved March 3, 1873, it was enacted as 
follows : 

That the act to iucorporate the Columbia(n) College in the District of Columbia, 
approved February ninth, eighteen hundred and twenty-one, be, and the same is 
hereby, so modified thjtt, said corporation shall be hereafter known and called by the 
name of the Columbia''nj University, and in that name shall take, hold, and manage 
all the estate and property now belonging to said coll(>ge, or that may hereafter be 
conveyed, devised, or bequeathed to said corporation by its original name; that the 
restriction of the yearly value of the property of the said corporation to the sum of 
twenty -five thousand dollars be. and the said restriction is hereby, repealed; and that 
said corporation may increase the number of its overseers to twenty-one and the num- 
ber of its trustees to twenty-one, exclusive of the president of the faculty, who shall 
be ex officio a trustee of said corporation. 

Sec. 2. That the act for the relief of the Columbian College in the District of Colum- 
bia, enacted by the legislative assembly of said District, and approved July twenty- 
fifth, eighteen hundred and seventy-one, be, and the same is hereby, approved and 
confirmed: ProvKlcd, That this act nor tlie said act of the legislative assembly of the 
said District shall be so construed as to authorize the said Columbian University to 
sell or use the proceeds of any sale of land granted by Congress to said institution for 
any purpose other than that expressed in the act of incorporation, and the act granting 
any such land or real estate, or contrary to any will, devise, or grant of any land or 
real estate heretofore or hereafter made, by any person or persons to said institution. 

By an act of Congress approved March 18, 1898, it was enacted as 
follows : 

Sec 1. That the Columbian University, on and after the first day of June, eighteen 
hundred and ninety-eight, shall be under the management and control of a board of 
trustees, consisting of twenty-two members; the president of the university shall be 
ex officio a member of said board, and the remaining twenty -one shall be divided into 
three classes with seven members in each class; a majority of said board shall be resi- 
dents of the District o" Columbia, and seven members shall constitute a quorum for 
the transaction o^ business. That, on or before the thirty-first day of May, eighteen 
hundred and ninety-eight, a meeting of the trustees and overseers of said university 
shall be held, and said meeting shall elect twenty-one trustees, seven of whom shall be 
desitrnated to serve from the first day of June, eighteen hundred and ninety-eight, 
until the annual meeting in eighteen hundred and ninety-nine; and seven from the 
same date until the annual meeting in nineteen hundred; and seven until the annual 
meeting in nineteen hundred and one. Two-thirds of said trustees, and also the presi- 
dent of the university, shall be members of regular Ba])tist churches; that is to say, 
members of churches of that denominiition of Protestiint Christians now usually 
known and recognized under the name of the regular Ba];tist denomination: said 
trustees so el»^cted shall serve for the periods mentioned and until their successors are 
elected. That on the first day of June, eighteen hundred and ninety-eight, the terms 
of office of the present trustees and overseers shall cease and determine, and theroupon 
the control and management of said university, its property and tru'^ts, shall vest in 
the board of trustees elected as liereinabove provided and their successors. 

Sec 3. That the board of trustees provided for herein shall have, and they are 
hereby given, full power and authority to appoint and remove any and all officers, 
professors, lecturers, teachers, tutors, agents, and employees who are now or may 
hereafter be elected or appointed ; they may, by a vote of two-thirds of all the trustees 



74 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

constituting said board, adopt and change by-laws for the conduct of the business and 
educational work of said university; they may appoint an executive committee 
composed of trustees, designate the number and chairman thereof, with such powers 
and authority as are usually exercised by an executive committee, and, which shall 
be conferred by the board, subject always to the control of the board of trustees; they 
may create and establish schools and departments of learning to be connected with 
and become a part of said university; they may receive, invest, and administer 
endowments and gifts of money and property for the maintenance of educational 
work by said university, and by any department and chair thereof now established 
or which may hereafter be created or established by said uniA'ersity; and they shall 
have all the powers and authority heretofore granted to and vested in the trustees 
and overseers of said university. 

Sec. 5. That the terms of office of the president of the university, the treasurer 
and other officers, professors, and lecturers, and the employment of agents and empoy- 
ees, and the title to all the property and rights in and management of the endowment 
funds of the university shall not be affected by the change of management herein 
provided for, but they shall continue and be subject to the control and management 
of the board of trustees hereby created the same as they are now subject to the control 
and management of the corporation. 

By an act of Congress approved January 23, 1904, it was enacted 
as follows: 

Tha,t the act to incorporate the Columbian College, in the District of Columbia, 
approved February ninth, eighteen hundred and twenty-one, and the amendatory act 
approved March eighteenth, eighteen hundred and ninety-eight, be, and the same 
are hereby, amended by repealing and striking out of the said charter the following 
words in lines twenty to twenty-five in section one of the said amendatory act of 
March eighteenth, eighteen hundred and ninety-eight, namely, "Two-thirds of said 
trustees, and also the president of the university, shall be members of regular Baptist 
churches; that is to say, members of churches of that denomination of Protestant 
Christians now usually known and recognized under the name of the regular Baptist 
denomination." 

Sec. 2. That section thirteen of the original charter of February ninth, eighteen 
hundred and twenty-one, which provides "That persons of every religious denomina- 
tion shall be capable of being elected trustees; nor shall any person, either as presi- 
dent, professor, tutor, or pupil be refused admittance into said college or denied 
any of the privileges, immunities, or advantages thereof for or on account of his senti- 
ments in matters of religion," be, and the same is hereby, reenacted and shall be 
hereafter in full force as a part of said charter. 

Sec. 3. That power is hereby given to the board of trustees of said university to 
change the name of said university at any regular meeting by a vote of not less than 
two-thirds of the total number of members of the board, as prescribed by the charter, 
subject to the approval of the Secretary of the Interior and the Commissioner of Edu- 
cation. That upon said action being taken a certificate, under the seal of the univer- 
sity, stating the name adopted and the date when the name shall go into effect, not 
less than thirty days nor more than six months from the date of its adoption, together 
with the fact that said name has been adopted as herein prescribed, shall be filed in 
the office of the recorder of deeds of the District of Columbia, and thereupon, upon the 
date specified for the name to go into effect, the university shall be known and desig- 
nated by the name adopted, and by said new name the said university shall be vested 
with and convey its real estate, hold, control, and administer endowments and gifts 
of money and property heretofore and hereafter made for the maintenance of its edu- 
cational work and do and perform all acts which it now has the power to do under its 
said charter. Such change of name shall not in any other way change, affect, or 
modify in any degree the rights, privileges, obligations, and powers of the said uni- 
versity under the charter of February ninth, eighteen hundred and twenty-one, and 
the amendatory acts thereto. 

On June 8, 1904, the board of trustees passed a resolution that the 
name of the university be changed to that of "The George Washington 
University," the same to go into effect September 1, 1904. This 
action was approved by the Secretary of the Interior and the Com- 
missioner of Education June 20, 1904. 

By an act of Congress approved March 3, 1905, the university was 
given power to increase the number of its trustees from time to time 
to a number not exceeding: 45. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 75 

Section 2 of said act provides as follows : 

That by and with the consent of said university, colleges may be organized here- 
under for the purpose of carrying on, in connection with the university, special lines 
of educational work in the arts, sciences, and liberal and technical knowledge, such 
colleges to be educationally a part of the system of the university, but upon inde- 
pendent financial foundations, and to this end any five or more persons desirous- 
of associating themselves for the purpose of establishing a college hereunder may 
make, sign, and acknowledge before any officer authorized to take acknowledgment 
of deeds in the District of Columbia, and with the assent of the university in writings 
file in the office of the recorder of deeds of the said District a certificate in writings 
in which shall be stated, first, the intention to organize a corporation under this 
act and the assent of the university thereto; second, the name or title by which the- 
college shall be known in law; third, the pames of the trustees constituting the first 
board, and such trustees may be divided mto three classes, the term of office of one 
class expiring annually; fourth, the manner of nominating and electing successors 
to said trustees; fifth, the branch or branches of literature, arts, science, liberal or 
technical knowledge proposed to be taught; sixth, that the highest officer of said 
college shall be a dean, the dean and members of the faculty to be members of the 
educational councils of the university in accordance with the rules governing the 
university; seventh, that all degrees shall be bestowed by the university; eighth^ 
that in all financial and legal responsibility the college shall be an independent organi- 
zation. Upon filing such certificate the trustees named therein and their successors- 
shall be a body politic, incorporated by the name and style stated in the certificate, 
and by that name and style shall have perpetual succession in association with the- 
university, with power in the college to sue and be sued; plead and be impleaded; 
to acquire, hold, and convey property in all legal ways; to receive by gift, devise,, 
or otherwise, and hold, control, and administer endowments and gifts of money and 
property thereafter made to it for the maintenance of its educational work; to have 
and use a common seal, and to alter and change the same at pleasure; to make and 
alter from time to time siich by-laws not inconsistent with the Constitution of the- 
United States or the laws in force in said District or the laws of the university regu- 
lating the conduct of educational work, as may be deemed necessary for the govern- 
ment of the college, but said college shall not confer academic or honorary degrees; 
such college shall hold the property of the institution and all moneys and property 
conveyed to it by purchase, gift, conveyance, will, devise, or bequest solely for the 
purposes of the educational work specified in said certificate; the trustees of such 
college shall faithfully apply all funds collected or received and the proceeds thereof 
belonging to the institution, according to their best judgment, in purchasing lands 
and erecting buildings, supporting necessary officers, instructors, and servants, and 
procuring all equipment, educational and otherwise, necessary to carry on the work 
of the college. 

In compliance with the terms of the resolution of the House of 
Representatives there is attached hereto detailed statements, by 
fiscal years, of the receipts, investments, and expenditures of tha 
university in each of its departments from December 31, 1899, to- 
the close of the last fiscal year, August 31, 1910; also detailed state- 
ments of the salaries paid during said period (Exhibit A). There is 
also attached hereto a list of salaries for the year 1909-10, which were 
unpaid on August 31, 1910 (Exhibit B); a list of the salaries for the 
current fiscal year (Exhibit C) ; copy of the terms of agreement with 
the medical faculty for the running of the medical and dental schools 
and hospital for the current year (Exhibit D) ; copy of the terms of 
agreement with the faculty of the law school for the present fiscal 
year (Exhibit E); copy of the lease of buildings at 1528 to 1538 I 
Street (Exhibit F) ; and copy of lease of rooms in Masonic Temple for 
use of the law department (Exhibit G). 

The detailed statements of receipts and expenditures have been 
prepared from the best information obtainable. Wherever prac- 
ticable the receipts have been made up from original cash books and 
the disbursements from the original vouchers. The records prior to 
September 1, 1903, are not entirely complete, and in some instances 



76 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

the entries in the journals and ledgers were the onl}^ data available. 
Prior to that time the accounts of the medical and dental schools were 
kept by the deans and those of the hospital by the superintendent, 
and the vouchers have not all been preserved. On September 1, 1903, 
a system of "cash sheets" was adopted. These show in detail the 
receipts and expenditures classified under numerous headings. The 
vouchers covering the period from September 1, 1903, to date have 
been preserved and have been carefully checked Avitli the sheets 
containing abstracts of disbursements. 

The disposition of all money received during the period covered 
by this report is shown in the accounts kept. 

Two colleges are upon independent financial foundations, and the 
trustees have no control over their financial affairs. They receive 
their own tuition and pay their own expenses. National College of 
Pharmacy was incorporated by certificate of incorporation filed on 
February 13, 1906, under the authority conferred by the act of 
Congress approved March 3, 1905, as a part of the educational sj^stem 
of the university, but upon an independent financial foundation. 
The college had been previously incorporated November 7, 1872, as 
The National College of Pharmacy, but reincorporated under the 
act of 1905, and the old corporation conveyed its real estate and all 
other assets to the new corporation. 

No funds have been received by the university except diploma fees, 
which are shown in the statements of receipts hereto attached. 
(Exhibit A.) 

A copy of the certificate of incorporation of National College of 
Pharmacy is hereto attached, marked ''Exhibit H." 

The College of Veterinary Medicine was also incorporated under 
the authority conferred by the act of Congress approved March 3, 
1905, as a part of the educational system of the university, but on 
an independent financial foundation. A copy of the certificate of 
incorporation dated April 1, 1908, is hereto attached, marked 
"Exhibit I." 

At the time of the incorporation it was not contemplated that any 
of the students of this college would attend classes in other depart- 
ments of the university, but afterwards it was arranged that students 
were to take certain courses in the department of arts and sciences 
and in the medical department, and the rate of compensation fixed 
at a conference of deans. The rate for last year in veterinary medi- 
cine was as follows: 

Per annum. 

Students taking inorganic chemistry in arts and sciences $6. 50 

Students taking second-year chemistry in arts and sciences 2. 50 

(The above fee is for the use oi laboratory only, the teacher being pro- 
vided by the veterinary college.) 

Physiology, medical department 15. 00 

Bacteriology and pathology, medical department 19. 00 

Matriculation fees 5. 00 

Graduation fees 10. 00 

The amounts paid to the university by this college are shown in 
the detailed statements hereto attached. (Exhibit A.) 

On August 31, 1910, there was due to the university by this col- 
lege the sum of $588.50, which is included in the statement of assets 
and liabilities. This amount has since been paid. This was a bal- 
ance due for fees to the medical department (bacteriology and 
pathology) . 



FINANCIAL CONDITION OP GEOEGE WASHINGTON UNIVEESITY. 77 

The payment made during the fiscal year 1909-10 covered the 
following : 

Matriculation fees $110. 00 

Arts and sciences (chemistry) 175. 50 

Medical (physiology and bacteriology) 214. 50 

500. 00 

Two other colleges have been incorporated under the authority of 
the act of March 3, 1905, namely, Columbian College and Washington 
College of Engineering. These, however, have but a paper exist- 
ence and no attempt has been made to put them on an independent 
financial foundation. 

Because of the fiscal year of the university having ended on 
August 31, 1910, it has been thought best to prepare the following 
statement of assets and liabilities as of that date and to state what 
arrangements have been made to continue the university during the 
current fiscal year. 

Assets August 31, 1910. 
[Exclusive of endowment and other trust assets.] 

Balance due by S. W. Woodward for purchase price of uni- 
versity and law halls, Fifteenth and H Streets (20,200 
square feet — old assessment $357,200, valued by trustees 

in 1909 at $606,000) sold for $550, 000. 00 

Less cash paid on account 20, 000. 00 

$530, 000. 00 

Medical lot and building (7,200 square feet assessed at 
$43,200; improvements assessed at $60,000; total, 
$103,200), hospital lot and building (17,163 square feet 
assessed at $110,172; old improvements assessed at 
$14,000; new improvements assessed at $40,000; total, 
$164,172 — figures given are those of the new assessment 
just made — the total valuation under the previous assess- 
ment was $215,049), valuation by university: 

Ground 250,000.00 

Improvements ; . . . 153, 599. 93 

403,599.93 

Books in library (at the valuation placed thereon by the trustees) 37,000.00 

Equipment, apparatus, art collections, and furniture (at the valuation 

placed thereon by the trustees) 73, 101. 01 

Withdrawal value of perpetual insurance policies on university prop- 
erty 2, 868. 75 

Unpaid tuition fees 1909-10 :i 

Graduate studies $381. 82 

Arts and sciences 1, 304. 35 

Engineering 1, 485. 50 

Architecture 596. 50 

Political sciences 240. 50 

Teachers college 18. 66 

Medicine 708. 25 

Dentistry 218. 75 

Law 1,823.75 

6, 778. 08 

Due from National College Veterinary Medicine, balance of 

medical fees (since collected) 588. 50 

Due for hall rents unpaid (regarded as collectable) 210. 00 

Due from pay patients in hospital (estimated amount collectable ($2,500). 6, 801. 63 

Due from Board of Charities for hospital account (since collected) 202. 80 

1 It is not probable that over $4,000 in all wUl be collected of this $6,778.08. Unpaid fees for tuition prior to 
1909-10 are not Usted as an asset. It is not probable that over $500 will be collected from that source. From 
September 1, 1910, to October 31, 1910, there has been collected on account of tuition fees priorito 190&-10 
S136; on account of tuition fees 1909-10, $2,442.71; total, $2,578.71. 



78 FINANCIAL CONDITION OF GEOKGE WASHINGTON UNIVEKSITY. 

Cash in National City Bank $280. 97 

Cash in Riggs National Bank 303. 36 

Cash in American Security & Trust Co 2. 85 

Cash in treasurer's hands 1, 026. 03 

$1, 613. 21 



1, 062, 763. 91 
Liabilities August 31, 1910. 

[Exclusive of liabilities to the endowment funds.] 

Mortgage on university and law halls and medical building 
and hospital, held by Fidelity Trust Co., Philadelphia. . $450, 000. 00 

Accrued interest on same to August 31, 1910 7, 500. 00 

$457, 500. 00 

Note due to Riggs National Bank $22, 500. 00 

Accrued interest on same to August 31, 1910. 634. 37 

23, 134. 37 

Note due to Washington Loan & Trust Co 10, 000. 00 

Accrued interest on same to July 15, 1910 54. 17 

10, 054. 17 

Note due to National City Bank 29, 000. 00 

Accrued interest on same to August 31, 1910. 540. 14 

29,540.14 

Note due to A. Lisner (discounted by Columbia 

National Bank) 9,900.00 

Accrued interest on same to August 31, 1910. 78. 38 

9, 978. 38 

72, 707. 06 

Unpaid salaries (see Exhibit B): 

Graduate studies 40. 00 

College of the political sciences 450. 22 

Department of law 671. 20 

General expense (auditor's fee) 250. 00 

Hospital pay roll 892.00 

2, 303. 42 

Unpaid current accounts : 

. Colleges of arts and sciences (books for library) 49. 41 

College of the political sciences (postage and telegrams). 5. 50 

Medical department — 

Insurance $80. 00 

Advertising 59. 95 

Repairs of fire damage to equipment 404. 35 

Miscellaneous 21. 88 

566.18 

' Hospital — 

Table supplies 2, 055. 24 

Medical and surgical supplies 781. 89 

Telephone 105.73 

Fuel 133.68 

Gas 40.68 

Laundry 61. 80 

Stationery 10. 76 

Sundry house expenses 104. 03 

Equipment 200. 00 

Repairs 50.28 

X-ray operator 41. 67 

3, 585. 76 

General expense — 

Judd & Detwiler — 

Printing catalogue, etc 1, 306. 93 

Printing for University Expansion 

Movement 1,020.06 

Lord Baltimore Press, printing 6. 75 

Telephone bill 38.95 

Rent safe deposit box 10. 00 

Typewriter supplies and stationery 20. 30 

Miscellaneous 8. 89 

2, 411. 88 



FINANCIAL CONDITION OP GEORGE WASHINGTON UNIVERSITY. 79 

Unpaid current accounts — Continued. 
Maintenance of buildings — 

University hall, gas, electricity, etc |42. 26 

Law hall, ice .48 

Medical hall, gas and ice 2.19 

University annex, gas 1. 08 

$46. 01 

$6, 664. 74 

Expenses of moving from Fifteenth and H Streets, Mer- 
chants Transfer & Storage Co 864. 00 

JohnR. Peake 2.50 

— — 866. 50 

Accrued taxes on real estate , 80. 11 

Accounts in process of adjustment: 

George B. Post & Sons, architects' fees for plans for Van 

Ness Park 2,500.00 

Richard D. Harlan — 

Commissions on collections for dean of 

women 110.50 

Commissions on collections for Mount 

Vernon alcove 103. 32 

Commissions on collections for College of 

PoHtical Sciences since July 18, 1910 . . 8. 75 

Expenses 417.77 

540. 34 

3,040.34 



543, 162. 17 

In addition to the liabilities above stated, contracts had been 
entered into with W. K. Reeve, carpenter and builder, for alterations 
to the buildings 1528 to 1538 I Street, the medical building and the 
quarters rented for the law school in the Masonic Temple, in order to 
accommodate those departments which were moved from Fifteenth 
and H Streets on the sale of that property. The work is being done 
by Mr. Reeve on a percentage basis and has not been entirely com- 
pleted. Up to November 1 the bills for work on the I Street build- 
ings and the medical school amounted to $4,893.31, and those for 
work at the Masonic Temple to $2,019.71; in all, $6,918.02. The 
bills yet to be rendered will probably amount to about $500. 

LIABILITIES OF THE GENERAL FUND FOR IMPAIRMENT OF ENDOWMENT 
AND OTHER TRUST FUNDS. 

By reference to the special report on the endowment funds it will 
be seen that there is due by the general fund to the various endowment, 
scholarship, and prize funds the following amounts: 

Congressional professorship fund $63, 872. 93 

Poindexter endowment fund 12, 525. 56 

$40,000 endowment fund 26, 891. 46 

Elton professorship fund 10, 133. 19 

Syms legacy - 1,500.00 

Withington scholarship fund 1, 573. 20 

Walker scholarship fund 2, 500. 00 

Morehouse scholarship fund 1, 500. 00 

Kendall scholarship fund 1, 459. 61 

Davis scholarship fund 1, 000. 00 

Farnham scholarship fund 1, 000. 00 

M. M. Carter scholarship fund 1, 000. 00 

Powell scholarship fund 22, 272. 00 

Mary Lowell Stone scholarship fund 2, 775. 38 

Staughton and Elton prize fund - - 500. 00 

Rugglea prize fund - • 500, 00 



80 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVEESITY, 

Fitch prize fund $1, 678. 83 

Cutter prize fund 75. 14 

Walsh prize fund 126. 58 

Ordronaux prize fund 932. 00 

Alumni hall fund 4, 366. 50 

Corcoran endowment fund 175, 204. 01 

Building, site, and enlargement fund 36, 007. 09 

Eleanor J. Cooper fund 12.50 

Total amount due from the general fund to the various trust funds 

(exclusive of Martin embezzlement^ 369, 405. 98 

Net loss to the trust funds through the embezzlement of R. H. Martin, 
former treasurer, after making allowance for the $4,000 recovered from 
his bondsmen, was as follows: 

Corcoran endowment fund 13, 774. 21 

H. H. Carter scholarship fund 5, 000. 00 

Total loss 18, 774. 21 

In addition to the above, there are two funds which may or may 
not be entitled to reimbursement from the general fund. 

From the Eleanor J. Cooper fund $1,900 has been paid out of 
income account to the medical department for the purpose of con- 
ducting an investigation of the malarial poison arising from sewer 
gas. For the reasons stated in the report on the endowment funds, 
the cost of this investigation has not been definitely ascertained. 

The Hampton Y. Denman bequest was ''for the use and benefit of 
the law department." The money received, amounting to S8, 179.32, 
was paid into the general fund. \¥hile the department of law shows 
an apparent profit of over $15,000 since the receipt of the first money 
from the Denman estate, the accounts of the university have been 
so kept that no part of the interest on the debt of the university 
(part of which was incurred for the erection of the law building) has 
been charged against the law department, nor has any part of the 
salaries of the administrative officers and other general expenses of 
the university, all of which were paid out of the general fund. 
Maintenance of the law hall has been charged to general expenses, 
while the heating was from the plant in the university building, and 
the total cost of fuel is charged to university hall maintenance. 

Under the circumstances, it is impossible to state how much (if 
any) of the Denman bequest (which was placed in the general fund 
and used for current expenses) has been expended "for the use and 
benefit of the law department." 

The amount of liabilities to the building, site, and enlargement 
fund and alumni hall fund may be decreased to a great extent by 
reason of the efforts now being made by the trustees to induce sub- 
scribers to release the university from any claim for reimbursement 
and to transfer their subscriptions to the general fund. 

The purposes for which these funds were started seem practically 
impossible of fulfillment at the present time. 

At a meeting of the board of trustees held October 17, 1910, the 
following resolutions were adopted : 

RESOLUTION ADOPTED BY THE BOARD OF TRUSTEES OF THE GEORGE WASHINGTON 
UNIVERSITY AT A MEETING HELD OCTOBER 17, 1910. 

Whereas the executive committee at its meeting August 11, 1910, adopted the fol- 
lowing: "The chairman of the executive committee reported that there had been 
question as to the validity of the subscriptions to the $400,000 building, site, and 
expansion fund, and on consideration it was, on motion, Resolved, That it be recom- 



FIISrAlSrCIAL CONDITION OF GEOKGE WASHINGTON UNIVEKSITY. 81 

mended to the board of trustees that all subscriptions to that fund be canceled;" 
it was 

Resolved, That all subscriptions except those transferred by their subscribers to the 
general fund be, and hereby are, canceled. 

I do certify that the foregoing is a true copy of a resolution passed at a meeting of 
the board of trustees of the George Washington University held on October 17, 1910, 
as said resolution appears upon the minutes of the proceedings of said board of trustees. 

Richard Cobb, Secretary. 

RESOLUTION ADOPTED BY THE BOARD OP TRUSTEES OF THE GEORGE WASHINGTON 
UNIVERSITY AT A MEETING HELD OCTOBER 17, 1910. 

Whereas the executive committee at its meeting of August 18, 1910, adopted the 
following resolution: "Resolved, That it be recommended to the board of trustees that 
the alumni hall fund subscriptions be canceled;" it was 

Resolved, That the recommendation of the executive committee be adopted and all 
said subscriptions are hereby canceled. 

I do hereby certify that the foregoing is a true copy of a resolution passed at a meeting 
of the board of trustees of the George Washington University, held on October 17, 
1910, as said resolution appears upon the minutes of the proceedings of said board of 
trustees. 

Richard Cobb, Secretary. 

ASSETS OF ENDOWMENT FUNDS AUGUST 31, 1910. 

The following assets are held for the various funds: 

Congressional professorship fund: 

Lot 8, square 13 (assessed value) $2, 565. 00 

Lot 10, square 13 (assessed value) 2, 218. 00 

Lot 12, square 13 (assessed value) 4, 588. 00 

Lot 13, square 13 (assessed value) 3, 924. 00 

Lot 9, square 16 (assessed value) 2,224.00 

Lot 8, square 23 (assessed value) 3, 055. 00 

Lot 2, square west of 23 (assessed value) 1, 069. 00 

Lot 5, square 83 (assessed value) 3, 590. 00 

Lot 5, square 87 (assessed value) 1, 896. 00 

Lot 2, square 88 (assessed value) 492. 00 

$25, 621. 00 

Admiral Powell endowment: 

House 1707 I Street, assessed at 18, 923. 00 

Cash in endowment income bank account 600. 05 

Withdrawal value of perpetual insurance policy 135. 00 

Fitch prize fund: 

2 shares American Telephone & Telegraph Co. stock 236. 00 

Cash on deposit in endowment income account 13. 00 

Cutter prize fund: 

100 shares Washington Sanitary Improvement Co. stock 1, 000. 00 

Cash on deposit in endowment income account 25. 00 

Walsh prize fund : 

30 shares Washington Sanitary Improvement Co. stock 300. 00 

Cash on deposit in endowment income account 7. 50 

Ordronaux prize fund, $5,000 Chicago, Rock Island & Pacific collateral 
trust 4 per cent bonds 4, 060. 97 

Cooper medical endowment: 

$5,000 Chicago, Rock Island & Pacific collateral trust 4 per cent b(5nds. 4, 118. 75 
Note of Thomas R. Marshall, secured by deed of trust on Losekam's 
Cafe. 1323 F Street, and lot 70, block 30, Columbia Heights (part of 

a loan of $53,000, 5 per cent) 5, 000. 00 

Note of Lewis Spectre, secured by deed of trust on lot 64, square 1017 

(part of a loan of $1,800, 5 per cent) 200. 00 

Cash in banks (endowment income account, $126.33; trust funds 
account, $29.17) 155. 50 

Alumni hall fund, cash in bank (special account) 135. 86 

Corcoran endowment fund: 

Burgdorf lot (sublot 148, square 672), 3,000 square feet, assessed at . . . 1, 350. 00 
4 shares American Telephone & Telegraph Co. stock 472. 00 

68966— H, Doc. 1060, 61-3 6 



82 FIJSTAXCIAL CONDITION OF GEOKGE WASHINGTON UNIVERSITY. 

Corcoran endowment fund — Continued. \ 

Proportionate share in §24,000 Chicago, Rock Island & Pacific 
refunding bonds and $16,000 notes of Washington Sanitary Improve- 
ment Co $26, 884. 17 

Cash in banks — 

Building, site, and expansion account 180. 53 

Endowment income account 374. 96 

Washington Loan & Trust Co 270. 12 

Davis prize fund: 

Proportionate share in $24,000 Rock Island bonds and $16,000 Wash- 
ington Sanitary Improvement Co. notes 700. 00 

Cash in endowment income account 9. 12 

Cash in Washington Loan & Trust Co 7. 06 

National Park Seminary fund : 

Proportionate share in §24,000 Rock Island bonds and $16,000 Wash- 
ington Sanitary Improvement Co. notes 500. 00 

Cash in endowment income account 6. 72 

Cash in Washington Loan & Trust Co 5. 20 

Elton professorship fund: 

Proportionate share in $24,000 Rock Island bonds and $16,000 Wash- 
ington Sanitary Improvement Co. notes 4, 375. 00 

Cash in endowment income account 56. 64 

Cash in Washington Loan & Trust Co 43. 84 

Kendall scholarship fund: 

Proportionate share in $24,000 Rock Island bonds and $16,000 Wash- 
ington Sanitary Improvement Co. notes 4, 500. 00 

Cash in endowment income account 58. 56 

Cash in Washington Loan & Trust Co 45. 33 

Interest on bank balances, endowment insome account 24. 43 

Mount Vernon alcove fund, cash on deposit in special account 317. 61 

100, 712. 92 

JOINT INVESTMENTS. ' 

(Explanatory only. These are not in addition to but are included in the above 
assets.) 

Funds interested: 

Davis prize fund $700. 00 

Elton professorship fund 4, 375. 00 

Kendall scholarship fund 4, 500. 00 

National Park Seminary fund 500. 00 

Corcoran endowment fund 26, 884. 17 

36,959.17 



Investments: 

$24,000 Chicago, Rock Island & Pacific refunding 4 per cent bonds. . . 20, 959. 17 
$16,000 notes of Washington Sanitary Improvement Co., secured by 
deed of trust (reinvestment of proceeds of Needham note), interest 
5 per cent 16,000.00 

36, 959. 17 

LIABILITIES OF ENDOWMENT FUNDS AUGUST 31, 1910. 

Admiral Powell endowment, unpaid repair bills on I Street house $454. 20 

Mount Vernon altove fund, unpaid bills for books, etc 93. 88 

Total liabilities of endowment funds 548. 08 

UNIVERSITY AND LAW BUILDINGS. 

The university and law buildings were sold by the university during 
the progress of the investigation for $550,000. Of this amount 
$20,000 was paid on account of the purchase money by the purchaser, 
S. W. Woodward, prior to August 31, 1910. On October 25, 1910, 
the sale was finally consummated and the balance of the purchase 



piisrAisrciAx, condition" of george Washington univeesity. 83 

money paid. This balance, amounting to $530,000, together with 
interest allowed, by Mr. Woodward, $894.36, making a total of 
$530,894.36, was applied as follows: 

Paid Fidelity Trust Co., Philadelphia, amount 
of loan secured by deed of trust on university 
and law property and medical school and 

hospital properties $450, 000. 00 

Accrued interest on same 10, 812. 50 

$460, 812. 50 

Expenses connected with release of trust 16. 00 

Paid Riggs National Bank: 

Principal 22, 500. 00 

Interest 806. 26 

23, 306. 26 



Paid Washington Loan & Trust Co.: 

Principal 10, 000. 00 

Interest to July 15 54. 17 



Paid National City Bank: 

Principal 29, 000. 00 

Interest 809. 66 



10, 054. 17 



29, 809. 66 



Paid Columbia National Bank account note of $9,900 6, 894. 36 



$530, 892. 95 
Balance on deposit with American Security and Trust Co 1. 41 

This paid off the mortgage indebtedness, leaving the medical and 
hospital properties clear of incumbrance, and also paid off all the 
note indebtedness except a balance of $3,005.84 on the note given to 
A. Lisner and discounted by the Columbia National Bank, with 
interest, which amounted on November 3, 1910, to $41.25. 

The return premiums on the perpetual insurance policies on the 
property sold to Mr. Woodward, amounting to $1,282.50, are also 
to be applied toward the reduction of this indebtedness. 

MEDICAL SCHOOL PROPERTY. 

The question has been raised as to whether the medical school 
property is not itself an endowment or trust, and therefore not an 
asset which can be used to make good the impairment of other trust 
funds. 

From the records of the trustees it appears that the session of the 
medical school had been suspended during the Civil War, and when 
it was decided to reopen this school the question of quarters was 
raised, and William W. Corcoran was asked to give to the college the 
property on H Street owned by him (then used by the United States 
as a medical museum). In Trustees Records, volume 3, page 150, 
under date of August 2, 1865, it appears that — 

The following communications were read and directed to be minuted on the 
records of the board: 

Washington, July 26, 1865. 
My Dear Sir: It affords me great pleasure to anticipate a formal and direct response 
to the communication of yourself and the trustees of Columbian College to him by 
advising you of Mr. Corcoran's determination to accede to the request made, and 
present the building on H Street, now used as a United States medical museum, to 
the college over which you preside. 

Mr. C. requests me to say that he will make an early reply to your letter and that I 
should in the interim advise you of his intention to do so. 
Very truly, yours, 

A. Hyde, 
Rev. Dr. Sansom, 

President of Columbian College, Washington City. 



84 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

Lausanne, July 12, 1S65. 
Dear Sir: Youi- letter of the 14th ultimo, with those of the board of trustees and the 
medical faculty of Columbian College, has been forwarded to me here, asking a donation 
of the library and lot on H Street, Washington, to the college, for the use of the medical 
department of that institution. For this college I have always felt a deep interest, 
my father being one of its founders and first trustees. I therefore take much pleasure 
in acceding to your and their request. 

Wishing you, with the trustees and faculty (among whom I recognize many old and 
estimable friends), every success in advancing the interests of the institution, 
I am, very respectfully, your obedient servant, 

W. W. Corcoran. 
Rev. G. W. Sansom, President of Columbian College. 

Mr. Hyde, my agent, to whom I have written on the subject, will an-ange with you 
for the transfer of the property to the college. 

W. W. C. 

The above communication was referred to the following committee : 
Joseph Henry, Amos Kendall, Kev. S. D. Gillette, L. D. Gale, and 
William Gunton, with power to act and whose duty shall be to report 
at the next regular meeting of the board the proper disposition to be 
made of the building on H Street donated by W. W. Corcoran, Esq., 
to the college. 

The records do not show that this committee ever made a report, 
but in volume 3, page 160, the following appears: 

January 10, 1866. Mr. Sansom suggested that the arrangement of the medical 
building be left to the medical faculty. It was ordered so by the board. 

On November 23, 1865, ]\Ir. Corcoran executed a deed to "The 
Columbian College, in the District of Columbia," wliich is recorded 
in Liber II. M. H. No. 5, folio 404 et sequi. 

The grant is therein stated to be made "in consideration of a desire 
to aid a great public benefit and in disseminating the blessings of 
education amongst the youth of the country, and in further considera- 
tion of the sum of one dollar," etc. 

The property conveyed consisted of a lot of ground on the north 
side of H Street between Tliirteenth and Fourteenth Streets, corner of 
a 15-foot wide alley. The lot was 50 feet front and 86 feet deep, 
"including and intending to include the library building now on said 
ground, and a space or alley on each side of the same 5 feet wide." 
The habendum is as follows: 

To have and to hold the same, with the privileges, hereditaments, and appurte- 
nances thereunto belonging, unto and to the use of the said party of the second part, 
for the educational purposes of the same forever. 

At the annual meeting of the corporation of the Columbian Uni- 
versity (as it was then named), held June 15, 1885, the trustees in their 
annual report state (Trustees' Records, vol. 4, p. 125) : 

It gives us pleasure to report that our honored and beloved president, Mr. W. W. 
Corcoran, has placed at the service of the corporation the lot of ground annexed to the 
medical building, immediately in its rear, to be utilized by the school so soon as the 
corporation shall be ready to make the required extension of the medical building. As 
this fact,though known to the president of the faculties and the secretary of the corpo- 
ration, has not yet been officially communicated to the corporation, it is respectfully 
recommended that the gift be accepted and that the thanks of the corporation be 
returned to the generous donor, who, to the original gift of the present medical building, 
now adds the ground on which to erect a necessary annex. 

At this meeting (Trustees' Records, vol. 4, p. 129) the following 
resolution was passed: 

Resolved, That the members of the corporation have listened with deep sensibility 
to the announcement made in the annual report of the board of trustees that our 



FINANCIAL CONDITION" OF GEORGE WASHINGTON UNIVERSITY. 85 

honored and beloved president has again signalized his bounty to the Columbian 
University by presenting to it the lot of ground immediately in the rear of the medical 
building to be used for the purpose of erecting an annex thereon, and, in gratefully 
accepting this valuable addition to the munificent gift of the building itself, we 
desire anew to testify and record our grateful sense of the varied and constant benefi- 
cence which has forever linked the name of W. W. Corcoran with the present pros- 
perity and future glory of the university. 

Resolved, That we gladly avail ourselves of the opportunitj'- to convey to our valu- 
able friend the assurance of the great personal regard which has been inspired by 
our long association with him around the council table of the institution, and we 
beg leave to accompany this assurance with the fervent prayer that he may long live 
to witness and enjoy the success of the plans and enterprises he has so nobly devised 
for the welfare of his fellow men . 

On June 1, 1887, the following letter was sent to the secretary of 
the university by Mr. Corcoran's agent, A. Hyde: 

Washington, June 1, 1887. 
Dear Sir: In partial fulfilment of Mr. Corcoran's intention to donate to the uni- 
versity the residue of the ground in the rear of the medical department of the insti- 
tution heretofore given by him, now occupied by two stables, 1 beg to hand you the 
keys. 

A formal deed for the same was prepared by me and laid on his table for execution, 
after he left his office on the day he was taken sick, and was necessarily left unsigned, 
but as he is well enough to give it his attention the matter will be consummated. 
Very respectfully, yours, 

A. Hyde, Agent. 
RoBT. C. Fox, Esq., 

Secretary of the Columbian University, Present. 
Approved by Mr. Corcoran. 

On June 20, 1887, Mr. Hyde sent to the secretary the deed from Mr. 
Corcoran to the university, accompanied by the following letter: 

Washington, June 20, 1887. 
Dear Sir: Mr. Corcoran was enabled to execute the deed for the stable lot, in the 
rear of the former gift in square 250 on H Street, and I have the pleasure to hand it 
to you herewith. 

Remaining, yours, truly, A. Hyde. 

RoBT. C. Fox, Esq., Secretary, etc., Present. 

This deed, which is dated June 1, 1887, and recorded in Liber No. 
1291, folio 347, conveys a lot of ground immediately in the rear of 
the original gift, 58 feet on the alley running north and south and 
50 feet on the alley running east and west. 

The grant is made "in consideration of the sum of $5 * * * 
and in the further consideration of a desire and purpose to aid in 
advancing the cause of education." The habendum is as follows: 

To have and to hold the same, with the improvements, et cetera, as aforesaid, unto 
the said party of the second part its successors and assigns, to their sole use, benefit, 
and behoof forever. 

Afterwards loans of $10,000 and $1,200 were made out of the Cor- 
coran endowment fund to the medical faculty for the purpose of 
erecting an addition to the medical school. These loans were can- 
celed when the old law-building site was conveyed to the Corcoran 
endowment fund prior to the erection of the Columbian Building. 
The amounts are included in the total amount due from the generfd 
fund to the Corcoran endowment fund. 

In 1902 the medical building was torn down and the present medical 
building was erected, which exactly covers the whole of the two lots 
conveyed by Mr. Corcoran in the two deeds above referred to. The 
exact cost of this building can not be ascertained, as it was erected at 
the same time as the addition to the hospital on the adjoining property 
owned by the university and the two were included under one contract. 



86 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

The total cost of the construction of the new medical building and 
the addition to the hospital was $156,582.66. The money to pay for 
this was borrowed from the Fidelity Trust Co., of Philadelphia, and 
represents part of the mortf;'ae;e indebtedness existing August 31, 
1910, which was paid off from the proceeds of the sale of the property 
at Fifteenth and H Streets. 

The medical and hospital properties are extended in the list of 
assets at the valuation fixed bv the university (ground $250,000, 
improvements $153,599.93), $403,599.03. This valuation is probably 
somewhat higher than the actual market value. The new assessment 
just completed places a valuation of $167,372 on the ground and 
$100,000 on the buildings. Some idea of the market value may be 
gained from the fact that the university and law properties sold for 
an amount sliglitly in excess of 90 per cent of the valuation placed on 
them by the university. 

The books in the libraries and ec}uipment and apparatus are 
extended at the valuation placed thereon by the trustees. These 
assets are not available for payment of liabilities or making good the 
impairment of endowment funds. 

Of the deposits on perpetual insurance, $1,282.50 is immediately 
•available for payment of liabilities and is to be utilized to reduce the 
note indebtedness at the Columbian National Bank. 

Unpaid tuitions. $6, 778. 08 

Due from pay patients 6, 801. 63 

13, 579. 71 

While these are extended at these amounts, it is estimated that not 
over $7,000 in all will be collected from these two sources. 

MORTGAGE INDEBTEDNESS AND DUE TO BANKS. 

As stated above, these liabilities were paid from the proceeds of the 
sale of the university and law-building properties, with the exception 
of a balance of $3,005.64, on the note held b}^ the Columbia National 
Bank. The interest liabilitv had increased from August 3 1 , 1 9 1 0, to the 
date of payment, from $8,307.06 to $12,647.59. By applying the re- 
turn premium on the canceled perpetual insurance policies ($1,282.50) 
to the reduction of the note indebtedness, this amount will then be 
less than $1,800, so that future interest requirements will be small. 

Salaries unpaid on August 31, 1910, have since been met from the 
receipts from tuitions due prior to that date. 

Current accounts unpaid on August 31, 1910, are being liquidated 
so far as possible from the receipts from tuition fees and hospital 
accounts due prior to that date. Efforts are being made to secure 
subscriptions to pay the balance on this account as well as the 
expenses incurred for moving from Fifteenth ami H Streets and 
fitting up new ciuarters. 

ACCOUNTS IN PROCESS OF ADJUSTMENT. 

Efforts are being made to induce both these parties to accept less 
than the amounts stated. 

Strenuous efforts have been made to reduce the expenses of the 
university and to bring the expenditures nearer to the receipts. 

By referring to the lists of salaries for the current 3'ear, it will be 
seen that a large reduction has been made in that item. The acting 



FINANCIAJL CONDITION OF GEOEGE WASHHSTOTOE" UNIVERSITY. 87 

president, Admiral Stockton, is serving without salarjf, while quite a 
few of the other salaries have been reduced. 

The item of interest, which last year amounted to $22,273, has 
been practically eliminated. 

The cost of maintenance of the university and law halls, which last 
year was $4,752.23, is eliminated; while the cost of the maintenance 
of the buildings 1528 to 1538 I Street ought not to be much more 
than last year, when the same buildings were used as a ''university 
annex." The ''university annex" was utilized last year as follows: 
1528 and 1530, college of engineering; 1532, division of architecture; 
1534, division of education (teachers' college); 1536 and 1538, dormi- 
tory for women students. 

The school of architecture and the women's dormitory, both of 
which were run at a loss, have been abandoned. By utilizing the 
room formerly occupied by these two departments, and moving the 
chemical laboratories to the medical building, accommodations have 
been made for the college of arts and sciences and the graduate 
school. 

The college of the political sciences is continued in the same rented 
quarters at 819 Fifteenth Street. The deficit in this college for the 
next two years will be largely met by the subscriptions obtained by 
Dr. Harlan, all of which are regarded as collectible. 

The medical and dental schools and hospital have been put on a 
self-sustaining basis, although no charge is apparently to be made 
against this department for rent or use of the buildings. 

The law department is to pay $5,000 to the general treasury out of 
which the rent of $2,300 is to be met. 

The expenses of the university for rents during the present fiscal 
year will be: 1528 to 1538 I Street, $2,500; Masonic Temple, $2,300; 
819 Fifteenth Street (college of political sciences), $1,800; 1412 I 
Street (nurses' home), $1,200; stable in Union Court for storage 
purposes, $360; in all, $8,160. 

Of these, the Masonic Temple rent will be provided for out of the 
payment by the lav/ department and the nurses' home rent must be 
met by the medical department. 

Efforts are being made to secure subscriptions to make up the deficit 
for the current year. Quite a few of such subscriptions have been 
paid. The amounts received on these subscriptions are being applied 
exclusively to the current year maintenance and not to the deficit for 
the past year, for which separate subscriptions are being asked. 

In conclusion I desire to state that with the exception of the Martin 
embezzlement, referred to in the report on endowment funds, I have 
found no evidence whatever of any shortages. All the money received 
either from tuitions or from the principal and income of endowment 
funds appears to have been expended in the conduct of the business 
of the university and its expenditure either authorized or ratified by 
the board of trustees. 

After the completion of the report on the endowment funds a letter 
was received from Mrs. Margaret M. Harlan in reference to the money 
collected for the Mount Vernon alcove library. This letter is hereto 
annexed, marked "Exhibit K." 

Respectfully, Nelson B. Keyser, 

Special Bank Accountant. 

The Attorney General, WasJiington, D. C. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 



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FINANCIAL CONDITION OP GEORGE WASHINGTON UNIVERSITY. 127 



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FINANCIAL CONDITION OP GEORGE WASHINGTON UNIVERSITY. 133 

Detailed List of Salaries Paid December 31, 1899, to August 31, 1910. 

salaries paid 1900. 



A. J. Huntington 

J. H. Gore 1 

H. L. Hodgkins 1 

J. Macbride Sterrett 1 

Charles E. Munroe 1 

H. Schoenfeld 1 

E. B. Pollard 1 

M. M. Ramsey 1 

C. C. Swisher 1 

W.A.Wilbur 1 

M. Carroll 1 

C. S. Smith 

R. P. Clark 

A. L. Rhoton 

J. T. Henderson 



,724.94 
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100. 00 
100. 00 



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Corcoran scientific school. 

H. L. Hodgkins $2,286.67 

C. E. Munroe 1,616.63 

H. Schoenfeld 508. 02 

H. King 62. 10 

G. P. Merrill 339.43 

A. F. Craven 162. 98 

L. Amateis ' 59. 94 

E. Farquhar 94. 36 

F. A. Wolff 570. 74 

F. Lamson-Seribner 56. 64 

J. C. Hornblower 201. 94 

E. B. Pollard 114.72 

M. M. Ramsey 968.87 

W. A. Wilbur 1, 186. 44 

A. R. Spoflord 232.10 

H. L. Rice 140. 94 

■G. Ayres 264. 87 

B. A. Dumm 87. 43 

H. A. Pressey 574.04 

E. L. Thurston 360. 58 

W. F. Dales 213. 79 

H. Presnell 232. 08 

W. P. Cutter. . . : 232. 08 

E . A. Muir 279. 82 

E. H. Meyer 107.70 

R. Sayer 13, 64 

P. Bartsch 107.45 

T. F. Laist 184. 09 

M. Carroll 131.04 

E. N. Kirbv 25.50 

W. E. Priest 4. 40 

T. A. Williams 49.04 

11,470.97 
Graduate school. 

C E. Munroe. $552. 68 

J. H. Gore 16.88 

D. K. Shute 45. 00 

D. Schoenfeld 59. 37 

J. M. Sterrett 118. 12 

F. H. Bigelow 22. 50 

G. P. Merrill 39. 66 

H. L. Hodgkins 33. 75 

E. Farquhar 33. 75 

F. A. Wolff 142. 96 

F. Lamson-Seribner 15. 75 

M. M. Ramsey 171.88 

A. F. Craven 118. 12 

E. B. Pollard 56.25 

C. C. Swisher 50. 62 

W. A. Wilbur 106. 88 

G. Ayres 126.56 

H. L. Rice 33.75 

M. Carroll 73. 12 

H. A. Pressey ' 270. 00 

C. W. Needham 6. 66 

2,094.26 
Law school. 

W. S. Cox $3,375.00 

J. M. Harlan 3,375.00 

D. J. Brewer 1, 087. 00 

W. A. Maury 3,375.00 



Law school — Continued. 

A. C. Bradley $1, 125. 00 

W. G. Johnson 1, 125. 00 

M. Church 650.00 

W. F. Mattingly 250. 00 

C. W. Needham 2, 250. 00 

W. C. Clephane 150. 00 

F. H. Stephens 150. 00 

E. C. Brandenburg 150. 00 

C. R. Dean 150.00 

C. D. Westcott 287.50 

W. E. McClure 30.00 



18,130.00 

School of comparative jurisprudence and diplomacy. 

Charles W. Needham $562.50 

John M. Harlan 1,125.00 

D. J. Brewer 662.50 

John W. Foster 1,000.00 

David J. Hill 1,000.00 

J. F. Johnson 1, 427. 92 

W. Van Devanter 500. 00 

M. A. Knapp 500. 00 

E. H. Stroebel 704.00 

John Barrett 30.00 

W. W. Howe 750.00 

C. C. Swisher 75.00 

J. W. Holcombe 37. 50 

Chas. R. Dean 150.00 

Chas. D. Westcott 287. 50 



8,711.92 



Medical school. 



E. A. de Schweinitz $1, 929. 65 

J. Ford Thompson 1,429.64 

W. W.Johnston 1,429.65 

A. F. A. King 1, 429. 64 

D. W. Prentiss 250.00 

D. K. Shute 1, 429. 65 

W. P. Carr 1,429.64 

Walter Reed 500. 00 

F. P. Morgan 825.00 

E. W. Refsineer 25. 52 

G. N. Acker.'. 100.00 

G. W. Foster 50. 00 

W. K. Butler 60.00 

S. RufBn 963.00 

E. G. Seibert 200. 00 

H. C. Yarrow 50. 00 

H. L. E. Johnson 60.00 

T. C. McArdle 60. 00 

C. W. Richardson 100. 00 

E. L. Tompkins 50. 00 

A. R. Shands 50.00 

J. Van Rensselaer 50. 00 

W. F. R. Phillips 50. 00 

G. Wythe Cook 120. 00 

W. S. Washburn 200. 00 

A. L. Lawrence 25. 00 

J. B. Nichols 76. 00 

E. E. Morse 100. 00 

James Carroll 275. 00 

F. R. Hagner 100. 00 

B. F. Tiefenthaler 300. 00 

W. Honesty 240. 00 

R. HamUton 336. Oo 

14,261.39 
Dental school. 

J. Hall Lewis S843. 38 

H. C. Thompson 643. 38 

E. W. Reisinger 12. 76 

S. Ruffin 190.00 

R. E. L. Hackney 226. 00 

W. H. Trail 226. 00 

B. F. Tiefenthaler 50. 00 

James Carroll 50.00 

2,239.52 



134 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 
Detailed List of Salaries Paid December 31, 1899, to August 31, 1910 — Cont'd. 

SALARIES PAID 1900— Continued. 



General expense account. 

B. L. Whitman ". SI, 249. 98 

C. W. Holmes 1,500. 00 

F. M. Allen 35. 00 

G. A. Sewell 385.00 

C. F. FuUer 120. 50 

M. W. Lindsev 33. 55 

W. L. Lewis. ". 540. 00 



General expense account — Continued. 

R. T. Harris $329.00 

R. Hawkins 147. 74 

G. Conway 55. 00 

Hezek. Randolph 17. 50 

Henry Randolph 10. 00 



4,423.27 



SALARIES PAID, 1901. 



College. 

A. J. Huntington 8600.00 

J. H. Gore 1,840.00 

H. L. Hodgkins 1,800.00 

J. McBride Sterrett 1,800.00 

Charles E. Muuroe 1,800.00 

H. Schoenfeld 1,800. 00 

C. C. Swisher 1,800.00 

W. A. Wilbur 1,800.00 

M. Carroll 1,800. 00 

C. S. Smith 900. 00 

R. P.Clark 441.67 

G. N. Hennlng 240. 00 



Corcoran scientific school. 



16,621.67 



H. L.Hodgkins $2,474. 83 

C. E. Munroe 1,885.94 

H. Schoenfeld 529.37 

G. P. Merrill 408.47 

A. F. Craven 247. 88 

E. Farquhar 109. 44 

F. A. Wolff 692. 96 

F. L. Scribner 49. 15 

E. B. Pollard 66.95 

M. M. Ramsey 724. 09 

W. A. Wilbur 1,564.98 

A. R. SpofEord 244. 23 

H. L. Rice 123. 40 

G. Ayres 274. 71 

T. F. Laist 635. 36 

M. Carroll .- 168. 08 

H. A. Pressey 1 , 001. 24 

E. L. Thurston 671. 29 

E. N. Kiiby 93. 43 

Paul Bartsch 125. 94 

W. F. Dales 194. 28 

H. Presnell 371. 28 

H. Williams 345. 90 

E. A. Muir 205. 37 

W. P. Cutter 25. 36 

G. N. Henning 274. 54 

C. Abbe 14.06 



Graduate school. 



13,522.53 



C. E. Muuroe .1482. 19 



J. H. Gore. 

H. Schoenfeld 

J. M. Sterrett 

H. W. Wiley 

H. L. Hodgkins 

Edw. Farquhar 

F. A. Wolff 

F. Lamson-Scribner . 

M. M. Ramsey 

A. F. Craven 

E. B. Pollard 

C. C. Swisher 

W. A. Wilbur 

Gustav Ayres 

H. L. Rice 

H. A. Pressey 

D. K. Shute 

G. P. Merrill 

W. S. Harshman. . . 



11.26 
39.62 
84.38 
95.62 
60.94 
16.88 
112.49 
16.88 
56. 25 
15. 00 
95. 62 
45.00 
129.38 
135.00 
33.75 
45.00 
22.50 
73.12 
5.63 



Graduate sc/iooZ— Continued. 

G. O. James S22. 50 

E. A. de Schweinitz 33. 75 

C. D. Wright 7. 50 

1,640.26 
Law school. 

W. S. Cox $3,000.00 

J. M. Harlan 3,000.00 

D. J. Brewer 1,312.50 

W. A. Maury 3,000.00 

A. C. Bradley 1,000.00 

W. G. Jolmson 1,000.00 

W. Van Devanter 625.00 

M. Church 675.00 

W. F. Mattingly 250.00 

C. W. Needham 2,000.00 

W. C. Clephane 600. 00 

Arthur Peter 600. 00 

E. C. Brandenburg 250. OO 

Channing Rudd 112. 50 

P. S. Pearson 145.00 

Samuel Herrick 30. 00 

W. E. McCliu-e 50. 00 

C. D. Westcott 187. 50 



17,837.50 

School of comparative jurisprudence and diplomacy. 

C. W. Needham $500.00 

J. M. Harlan 1, 000. 00 

D. J. Brewer 987.50 

J. W. Foster 1,000.00 

D. J. Hill 1 , 000. 00 

W. AV. Howe 1,050.00 

J. F.Johnson 1,150.00 

M. A. ICnapp 500.00 

W. P. Wilson 445.00 

C. D. Wright 733. 33 

C. C. Swisher 300. 00 

J. W. Holcombe 150. 00 

C. R. Dean 112. 50 

E. H. Strobel (>60. 00 

N. W . Hoyles 359. 00 

G. C. Lee 150.00 

P. S. Pearson 145. 00 

C. D. Westcott 187. 50 

Channing Rudd 112. 50 

10,542.33 

Medical school. 

E. A. de Schweinitz....: $2,006.87 

J. Ford Thompson 1,506.86 

W. W. Johnston 1 , 506. 86 

A. F. A. King 1,506.86 

D . K. Shute 1 . 506. 86 

W. P. Carr 1 . 50(!. 86 

Sterling Rullin 1 , 506. 86 

F. R. Hagner '. 300.00 

W. N. Fisher 100. 00 

H. C. Yarrow .iO.OO 

H. L. E. Johnson 50. 00 

T. E. McArdle 50.00 

W^ K. Butler 50. 00 

C. W. Richardson 100.00 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 135 
Detailed List of Salaries Paid December 31, 1899, to August 31, 1910^ — Cont'd. 

SALARIES PAID, 1901— Continued. 



Medical school — Continued. 

E. L. Tompkins S50. 00 

A. R. Shands 50.00 

John Van Rensselaer 50. 00 

Walter Reed 250. 00 

W. F. R. Phillips 1. 340. 00 

Geo. N. Ackers 50. 00 

G. Wythe Cook 125. 00 

W. S. Washburn 200. 00 

T. A. Claytor 50. 00 

A. B. Richardson 50.00 

J. M. Cabell 50. 00 

W. C. Woodward 50. 00 

E.G. Seibert 200.00 

F. P. Morgan 75. 00 

J. B.Nichols 125.00 

E. E. Morse 100.00 

James Carroll 100. 00 

B.L.Hardin 60.00 

H. H. Donnallv 216. 00 

B. F. Tiefenthaler 84. 00 

W. Honesty 255. 00 

R. Hamilton 300. 00 



Dental school. 

J. Hall Lewis $659.26 

H. C. Thompson 459. 26 

R. E. L. Hackney 150.00 

W. H. Trail 200.00 

B. F. Tiefenthaler 25. 00 

H. H. Donnally 25.00 

W. F. R. Phillips 310.00 

1,828.-52 
General expense account. 

S. H. Greene $2,000.00 

C. W. Holmes 1, 500.00 

Grace A. Sewell 465. 00 

C. F. Fuller 62.50 

M. VV. Lindsey 220.00 

L. R. Alden 34.38 

F. A. Barbour 99. 99 

W. L. Lewis 640.00 

R. T. Harris 339. 5o 

R. Hawkins 160. 67 

H. Randolnh 66. 67 



15,638.03 



5, 488. 71 



SALARIES PAID FOR EIGHT MONTHS ENDING AUGUST 31, 1902. 



College. 

A. J. Huntington $?400. 00 

J . H . Gord 1 , 240. 00 

H. L. Hodgkins 1,200.00 

J. Macbride Sterrett 1, 200. 00 

C. E. Munroe 1,200.00 

H. Schoenfeld 1, 200. 00 

C. C. Swisher 1 , 200. 00 

W. A . Wilbur 1 , 200. 00 

Mitchell Carroll 1 , 200. 00 

G. S. Smith 600.00 

G. N. Henning 600.00 



11.240. on 

Corcoran scientific school. 

H. L. Hodgkins SI, 557. 16 

C.E.Mimroe 1.1.57.97 

H. Schoenfeld 229. 16 

G. P. MerrUl 293.27 

A. F.Craven 262.14 

Edward Farquhar 137. 13 

FA Wolff, jr 481.93 

E. B. Pollard 24.65 

W. A. Wilbur 852.90 

A. R. Spoflord 312.01 

H. L. Rice 96. 50 

Gust. Ayres ' 31. 24 

T. F. Laist 334.31 

Mitchell Carroll 95. 07 

H. A. Pressey 744.00 

E. L. Thurston 353. 70 

E. N. Kirbv 95. 96 

Paul Bartseh 115. 68 

W. F. Dales. 137.04 

H. Presnell 311. 98 

Hugh Williams 29.58 

E. A. Muir 161.70 

W. P. Cutter 198.06 

G. N. Henning 480. 14 

C. Abbe 16.02 

J. H. Fedeler 138. 48 

8, 648. 98 
Graduate school. 

C. E. Munroe $378. 39 

Max West 45. 00 

H. A. Pressey 106. 87 

E. B. Pollard 67. 50 

E. Farquliar 33.75 

C. C. Swisher 73.12 



Graduate school — Continued. 

W. A. Wilbur .$135.00 

F. A. Wolff, jr 95. 25 

W. D.Johnston 22.50 

H. Schoenfeld 78.75 

G. Ayres 84.38 

D. K". Shute 67. 60 

H. L. Hodgkins 28.13 

J. H. Gord 11.25 

W. P. Carr 21.67 

Walter Reed 21. 67 

T. N. Gill 33.75 

Mitchell Carroll 22. SO 

A. F. Craven 62.50 

F. R. Rutter 60. 63 

G. P. Merrill 6. 00 

1,436.91 
Laiv school. 

J. M. Harlan $1,875.00 

D. J. Brewer 625. 00 

W. A. Maury 1,875.00 

A. C. Bradley 625.00 

W. G. Johnson 625. 00 

Willis Van Devanter 375. OO 

S. J. Peelle 500.00 

Melville Church 375. 00 

W. F. Mattingly 250.00 

C. W. Needham 1,562.50 

W. C. Clephane 850.00 

Arthur Peter 850. 00 

E. C. Brandenburg 150. 00 

H. P. Blair. . . .• 160. 00 

A. Y. Bradley 20. 00 

Samuel Herrick 50. 00 

Channing Rudd 341. 00 

Doorkeepers 4. 00 

11,102.60 

School of comparative jurisprudence and diplomacy. 

C. W. Needham $312. ,50 

J. M. Harlan 625. 00 

D. J. Brewer 625. 00 

J. W. Foster 1, 000. 00 

D. J. Hill 1, 000, 00 

J. F. Johnson 718. 76 

M. A. Knapp 500. 00 

C. D. Wright 733. 33 

C. C. Swisher 225.00 



136 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITT. 



Detailed List op Salaries Paid December 31, 1899, to August 31, 1910— Cont'd, 

SALARIES PAID FOR EIGHT MONTHS ENDING AUGUST 31, 1902— Continued. 



School of comparative jurisprudence and diplo- 
macy—Continued. 

•C. W. Holcomlie SU2. 50 

•(.■. R. Dean 112. .50 

'Ormsbv McHarg 75. 00 

E. H. Strobcl t>75. 00 

'G. C. Lee 90. 00 

.J. Barrett 30. 00 



Medical school. 



(i.8.-?4. .58 



E. A. de Schweinitz S2, 400. 00 

J. F. Thompson 1,900.00 

W. W. Johnston 1, 750. 00 

A. F. A. King 1,900.00 

D. K. Shute 1,900.00 

W. P. Carr 1, 900. 00 

Sterling Ruffln 1, 990. 00 

E, G. Seibert 400. 00 

James Carroll 275. 00 

Frank Hagner 100. 00 

J. B. Nichols 200. 00 

Waiter Reed 500. 00 

H. C. Yarro^v 50.00 

H. L. E. Johnson 50. 00 

T. E. McArdle 50. 00 

W. K. Butler 50.00 

C. AV. Richardson 100. 00 

E. L. Tompkins 50. 00 

A. R. Shands 50. 00 

John Van Renssalaer 50. 00 

Ct. N. Acker .50. 00 

•O. W. Cook 100. 00 

T. A. Claj-tor 50.00 

A. B. Richardson 50. 00 

J. M. Cabell 50.00 

W. C. Woodward 50. 00 

W. F. R. Phillips 1,7G2.00 j 

P.P. Morgan 75. 00 , 

D. W. Prentiss .50. 00 I 

E.E.Morse 100.00 

B.L.Hardin eo.OO ! 

J.R.Wellington tO. 00 j 

L. H. Reichelderfer 60.00 

Ja. S. Medford 60. 00 j 

W. I. Robey 35.00 , 

H. H. Donnally 15). 00 i 



Medical school — Continued. 

Vv". Hov.esty S135. 00 

R . Hamilton 90. 00 

18,652.00 
Dental school. 

J. H. Lewis $825.00 

H. C. Thompson 625.00 

R. E. L. Hackney 225.00 

W. H. Trail 275.00 

W. F. R. Phillips 328.00 

H. H. Donnally 50.00 

2,328.00 
Hospital. 

A. G. Odell, superintendent $480.00 

Nurses and servants 879. 10 

1,359.10 

General expense account. 

S. H. Greene, acting president $1,000.00 

C. W. Needham, president 1,200.00 

C. W. Holmes, registrar 1,066.64 

G. A. Sewell, stenographer 400. 00 

F. A. Barbour, bookkeeper 266. 64 

L. R. Alden, clerk 67.50 

J. S. Cadel, special clerk 8. 00 

W. L. Lewis, janitor 360. 00 

R. T. Harris, janitor 210.00 

R. Hawkins, janitor 120.00 

H. Randolph , fireman 40. 00 



Latr lectvre hall. 



4,738.78 



Channing Rudd , secretary $600. 00 

P. A. Pearson, assistant secretary 250. 00 

E. L. Keimey, janitor 210.00 

Blanche Reid, stenographer 227.50 

F. Esses, doorkeeper 26.40 

J. P. Divine, doorkeeper 39. 20 

E. Randolph, doorkeeper 6.40 

R. B. Griffith, doorkeeper 26.40 

CJrace Collins, stenographer 52.50 



1,438.40 



SALARIES PAID 1902^. 



College. 

A. J. Huntington $550. 00 

J. H, Gore 1,840.00 

H. L. Hodgkins 1,800.00 

J. McB. Sterrett 1,800.00 

C. E. Munroe 1,800.00 

H. Schoenfeld 1,800.00 

C. C. Swisher 1, 800. 00 

W. A. Wilbur 1,800.00 

'Mitchell Carroll 1, 800. 00 

G. N. Henning 900. 00 

" S.Smith 900.00 



<: 



16,790.00 
Corcoran Scientific School. 

B. L. Hodgkins $2,488.73 

€. E. Munroe 1,085.70 

H. Schoenfeld 580. 31 

W. A. Wilbur 961. a3 

Mitchell Carroll 128. 72 

G. N. Hennin? 619.17 

<?.. P. Merrill 455. 20 

A. F. Craven 214.00 

Edwd. Farquhar 131.85 

F. A. Wolfl 895.99 

A . R . SpofTord IW. 11 

H. L. Rice 14.3.02 



Corcoran Scientific ScAooZ— Continued. 

H. A. Pressey $1,207.61 

E. N. Kirby 242.46 

E. L. Thurston 498.48 

W. F. Dales 170.32 

H. Presnell 164.08 

E. A. Muir 373.72 

W. P. Cutter 164; 09 

Percy Ash 655.37 

R. E. B. McKennev 92.08 

C. Abbe 9. 52 

Philander Betts 195. 23 

L. E. (iiles 87. 91 

12,33L90 

Grnduate school. 

H. L. Hodgkuis $73.12 

J. McB. Sterrett 56.25 

C. E. Munroe 268. 43 

H. Schoenfeld 95. 62 

C. C. Swisher 39.37 

W. A. Wilbur 112.50 

Mitchell C^arroU 63. 75 

G. N. Henning 11. 25 

G. P. Merrill 73. 13 

A. F. Craven 22.50 

Edwd. Farquhar (11. 88 



FINANCIAL CONDITION OP GEORGE WASHINGTON FNIVEESITY, 



137 



Detailed List of Salaries Paid December 31, 1899, to August 31, 1910 — Cont'd. 

SALARIES PAID, 1902-3— Coutiaued- 



Graduatt school — Continued. 

F. A. Wolfl $141. 75 

H. L. Rice 22. 50 

H. A. Pressey 92.81 

R. E. B. McKenney 67. 49 

r. G. Radelflnger 22.50 

F. G. Rutter 15.00 

H. W. Wiley 22. 50 

O. T. Mason 33.74 

E. H. Bigelow 22.50 

E. A. de Schweinitz 67. 49 

T.N. Gill 33.74 

1, 419. 82 
Law school. 

H. St. G. Tucker $1,249.98 

J. M. Harlan 4,000.00 

D. J. Brewer 1,000.00 

W. A. Maury 3,000.00 

Willis Van Devanter 1,500.00 

S. J. Peelle 1, 000. 00 

Melville Church 600. 00 

W. F. Mattingly 500.00 

W. C. Clephane 1,200.00 

Arthur Peter '. 1,200.00 

E. C. Brandenburg 300.00 

H. P. Blair 500. 00 

J. P. Earnest 500.00 

W. G.Johnson 1,000.00 

Channing Rudd 150. 00 

W. R. Vance 583.32 

Channing Rudd (oratory) 525. 00 

18, 808. 30 
Jurisprudence and diplomacy. 

D. J. Brewer $1,000.00 

J. W. Foster 1, 000. 00 

D.J. Hill 500.00 

C. R. Dean 150.00 

J. F. Johnson 1, 150. 00 

M. A. Knapp. 500. qO 

Ormsby McHarg 200. 00 

C. C. Swisher 300. 00 

J. W. Holcombe 200. 00 

E. H. Strobel 697.31 

Hannis Tavlor 2, 500. 00 

O. P.Austin 120.00 

J. F. Crowell 200. 00 

H. T. Newcomb 180.00 



Medical school. 



8, 697. 31 



E. A. de Schweinitz $1,500.00 

J. Ford Thompson 1, 000. 00 

A. F. A. King 1,000.00 

D. K. Shute 1,000.00 

W. P. Carr 1,000.00 

Sterling Ruffin 1, 000. 00 

T. A. Claytor 1, 000. 00 

E. P. Copeland 50.00 

James Carroll 575.00 

E.G. Seibert 400. 00 

Walter Reed 50. 00 

H. C. Yarrow 50.00 

H. L. E. Johnson 50.00 

T. E. McArdle 50.00 

W. K. Butler 50. 00 

C. W. Richardson 100. CO 

A. R. Shands 50.00 

John Van Rensselaer 50. 00 

W. F. R. Phillips 1,200.00 

G.N. Acker 50. 00 

G. W. Cook 120. 00 

A. B. Richardson 50. 00 

J. M . Cabell 50. 00 

W. C. Woodward 50. 00 

J. B. Nichols 200.00 



Medical 5cfeooi— Continued. 

J. H. Ford $50. 00 

F. P. Morgan 75. 00 

D. W. Prentiss 50.00 

E. E.Morse 100.00 

B. L. Hardin 70. 00 

F. R. Hagner 100. 00 

L. H. Reichelderfer 50. 00 

H. C. Macatee 50. 00- 

H. S. Medford 50. GO 

G. B. Miller 50. 00 

C.S.White 50.00 

A. Tracy 35. 00 

Avery McDowell 85. 00 

H. H. DonnaUy 285. 00 

Jos. Payne 336.00 

Rob't Hamilton^ 270. 00 

Walter Honesty 100. 79 

W. S. Stamper 250. 00 

W. A.Boyd 315.00 

W. I. Robey 15. 25 

M. B. Fleet 55. 00 

13, 136. 04 
Dental school. 

J. H. Lewis „ 8638. 69 

W. F. R. Phillips 220.00 

W. R. Trail 275. 00 

R. E. L. Hackney 225.00 

J. B. Nichols 75. 00 

James Carroll 50. 00 

H. C. Thompson 438.69 



1,922.38 
Hospital. 

A. G. Odetl, superintendent $240. 00 

H. C. Macatee, superintendent 465. 00 

Nurses, attendants, servants, etc 2, 788. 51 

3, 493. 51 

General expenses. 

C. W. Needham $6,000.00 

C. W. Holmes 1,666.67 

Grace A. Sewell 600. 00 

F. A. Barbour 491.66 

L. R. Alden 16. 25 

E. N. Kirby 237. 50 

A. H. Homrighaus 166. 66 

T. D. Wynne 263.41 

Axel Josephsson 220. 00 

Jane G. Syrae 10.00 

Samuel Wallis .5. 00 

Mary H. Watkins 103.22 

MarvE. Foley 10.00 

W. H. Lewis 591. 00 

R. T. Harris 376.83 

Harrison Stewart 90. 00 

H. Randolph 90. 00 

Chas. DonnaUy 3. 43 

Samuel Taylor 20. 00 

Edward Colbert 80. 00 

Channing Rudd 208. 33 

Wm. A. DeCaindry 250.00 

11,499.96 
Law lecture hall. 

Channing Rudd $824. 97 

Loretta E. Minniss 412. 68 

Edear Buxton 315. 00 

E. L. Moulden 160. 00 

J. P. Divine 61. 80 

R. B. Griffith 6.40 

Walter Tronible 58. 40 

Van A. Potter 53. 80 

E. L. Kenney 3.32.50 

2, 225. 55 



138 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 



Detailed List of Salaries, Paid December 31, 1899, to August 31, 1910— Cont'd. 

SALARIES PAID 19(«-4. 



A rts and sciences. 

Percy Ash ^ S-100. 00 

Fairfax Bavard 75.00 

Philander i3etts :i20.00 

Mitchell Carroll 1,800. 00 

Edgar Frisbv 200- 00 

L.E.Giles.: 2-'5.00 

J. H. (Jore I.SOIIOO 

G. N. Henning 1, 500. 00 

Herman Bernard 150. 00 

H. L. ITodgkins .-- -MOO.OO 

N. M. Hopkins 400. 00 

F. L. Molbv 94. 50 

G. P. Merrill 400. 00 

E. A. Miiir 2.W. 00 

('. E. Monroe :i, 100. 00 

R. E. Nelson, jr tO.OO 

H. A. Pressej' .580.00 

T. M. Price 400. 00 

Oscar (Juick 100. 00 

Herman Schoenfeld 2, 000. 00 

L. A. Simon 150.00 

C. S. Smith 900. 00 

T. VV. Si,an(on 150.00 

J. McB. Sterrett : . . - . 1, SOO. 00 

C. C. Swisher i. 800. 00 

E. L. Thurston 425. 00 

M. W. Twitchell 150. 00 

W. A. Wilbur 2, t>00. 00 

F. A. Wolff, jr :WO.CO 

C. Abbe 140.00 

W. M. Coleman 100.00 

A. B. Marvin, jr 200. 00 

S. C. Welsh 100. 00 

L. R. Alden .-.-.. 100.00 

Carl Hau 200. 00 

Clarence Hall 100. 00 

liav'mond Cutwater 68. 75 

H. L. Colestock 100. 00 

F. Van Vleck 100. 00 

F. K. Weller 100.00 

^V. P. Cutter 500. 00 

H. I. Lucke 75. 00 

F. H. Bigelow 140.00 

Paul Bartsch 280.00 

J. C. Hornblower HOO. 00 

Wm. T. Harris 200. 00 

R. P. Falkner : 235. 00 

H. W. Wiley 100.00 

A. R.Spafford 300.00 

W. O. Snelling 39.05 

G. A. Anthony 40. 00 

. A.Hill 400.00 

29,197.31 
Medical department. 

G. N. Acker S50. 00 

W. A. Bovd 3<i0. 00 

W. K. Butler ,50.00 

E. E. Butterlield 100.00 

J. M.Cabell 50.00 

W. P. Carr 1,000.00 

James Carroll 500. 00 

C. A. Claytor 1 , 000. 00 

G. Wvthp Cook 120. 00 

E. P. Copeland 50. 00 

J. H. Ford .50.00 

Thos. S. D. Grastv 100.00 

B. L. Hardin....; 70.00 

A. F. A. Iving 1 , 000. 00 

G. E. McArdle .50.00 

O. A. McKimmio 44.00 

H. C. McAtee 50. 00 

G. B. Miller .50.00 

F. P. Morgan 75. 00 

E. E. Morse 100.00 

,T. B. Nichols 200.00 

W. F. R. Phillips 2.133.33 

D. W. I'renliess S3. 75 

L. H. Reichdderfer 50. 00 

C. W. Richardson 100.00 

Sterling h'unin 1,000.00 

E. A. de Schwcinitz 7,50 00 

E, G. Seibert i-OO. 00 



Medical department— Continued. 

A . R. Shands $50. 00 

D . K . Shute 1 , 250. 00 

W. .S. Staraden 200. 00 

J . Ford Thompson 1 , 000. 00 

C. S. White 50.00 

W. A. White 50. 00 

W. C. Woodward 50. 00 

H. C. Yarrow 50.00 

J. F. Mitchell 50.00 

E. C. Prestiss 33. 75 

A.N. Tasker 55.00 

H. H. Donnallv 100.00 

H. S. Medford 50.00 

12,774.83 
Dental school. 

J. H. P. Benson $50.00 

J. Hall Lewis 700. 00 

H. C. Thompson 500, 00 

W. H. Trail 275.00 

J. R. Walton 100. 00 

R. E. L. Hackney 225. 00 

O. A. M. McKimmie 16.00 

1,8GG.00 
Hospital- 
Superintendent $750. 00 

Matron 720. 00 

Pharmacist 80. 00 

Resident physician SO. OO 

Nurses, servants, etc 5, 943. 43 

7, 579. 43 
Law department. 

H. P. Blair $500. 00 

E. C. Brandenburg 300. 00 

Edgar Buxton 397. .50 

Melville Church liOO. 00 

W. C. Clephane 1, 200. 00 

J. P. Earnest 900.00 

Jno. M. Harlan 4,000.00 

R. M. Hughes 300. 00 

W. G. Johnson 1 , 000. 00 

Vv^ A. jMaury 1,500.00 

E. L. Moulden 270.00 

S.J. Peelle 1 , 000. 00 

Arthur Peter 1, 2(X). 00 

Chaiming Rudd 200. 00 

H. St. G. Tucker 5,000.00 

W. R. Vance 3, 500. 00 

N. E. Peterson 197. 39 

J. W. Lattimore 200. 00 

M. C. Wagner 93. 75 

F. J. Allen ,300.00 

22, 658. 04 
Jurisprudence and diplotnacy. 

O. P. Austin $120.00 

D. J. Brewer 1.. 500. 00 

J. F. Crowell 200.00 

C. R. Dean 1,50. 00 

J. W. Foster 1,000.00 

Carl Hau 150. 00 

J. W. Holcombe 200. 00 

N. A. Knapp 500. 00 

C. C. Swisher .300. 00 

H. Taylor 2. .500. 00 

C. D. Wright 4(X). 00 

Ormsby Mcllarg 75. 00 

11 . '1\ Ncwcomb. 90. 00 

L. R. Wiltley ,50.00 

7. 235. 00 
General expenses. 

C. W. Needham 8(1.000. 00 

W. A. De Caindry 2,50. 00 

(Merical help 912. 07 

Chas. W. Holmes 1, 7(i(i. (i4 

C. K. Yingling 758.33 

Channing Rudd 1 , 200. Oft 

10.887.04 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 139 

SALARIES PAID, 1904-5. 

Arts and sciences. 

Abbe, Cleveland, professor of meteorology (graduate studies) $40. 00 

Abbott, Brig. Gen., H. L., professor (graduate studies) 40.00 

Alden, L. R., assistant in history 250. 00 

Allison, Isaac, Instructor in graphics 225. 00 

Ash, Percy, professor of architecture . '. 150. 00 

Ash, Percy, head professor of architecture 1, 333. 28 

Bartsch, Paul, professor of zoology 275. 00 

Bassler, R. S., instructor in paleontology and stratigraphic geology 150. 00 

Betts, Philander, instructor in electric engineering and mechanical engineering 320. 00 

Bigelow, Frank H . , professor of astrophysics (graduate studies) 200. 00 

Buckingham, Edgar, lecturer on thermodynamics (graduate studies) : 120. 00 

Carroll, Mitchell, head professor of classic philology 1, 999. 92 

Clarke, Frank W., professor of mineral chemistry (graduate studies) 80.00 

Fowle, F. E., jr., lecturer on astrophysics 120. 00 

Freeboy , Hattie, librarian of college 619. 35 

Frisby , Edgar, professor of astronomy 160. 00 

Frisby, Edgar, professor of astronomy (graduate studies) 100. 00 

Gore, J. Howard, head professor of mathematics 1,999.92 

Gunnell, R. W. , assistant in assaying 50. 00 

Hau, Carl, instructor in German 300. CO 

Henning, George N., head professor of romance languages J 1,699.92 

Herman, Bernard, instructor in civil engineering 100. 00 

Plill, E. A., instructor in chemistry 400.00 

Hodgkins, H. L., head professor of physics and professor of mathematics 2, 799. 96 

Hopkins, N. Monroe, assistant professor of chemistry 550. 00 

Lucke, Henry J., instructor in applied mathematics 300. 00 

Merrill, Geo. P., professor of geology and mineralogy 493. 75 

Mitchell, E. G., assistant in zoology 100.00 

Molby, F. L., Instructor in free-hand drawing 132. 00 

Muir, Edward A., assistant professor of graphics 300. 00 

Munroe, Charles E., head professor of chemistry 3, 300. 00 

Cutwater, Raymond, instructor in assaying : 50. 00 

Painter, George S., instructor in philosophy 200. 00 

Peake, James F., assistant in English 100. 00 

Peek, Paul M., assistant in Greek and Latin 100. 00 

Pressey, H. A., professor of civil engineering (graduate studies) 90. 00 

Pressey, H. A., professor of civil engineering 600. 00 

Price, Thomas M., instructor in biochemistry (graduate studies) 80. 00 

Price, Thomas M., instructor in chemistry 400. 00 

Quick, Oscar, instructor in physics 200. 00 

Reid, C. E., instructor in electric engineering 250. 00 

Rice, H. D., professory of astronomy (graduate studies) 40.00 

Schoenfeld, Hermann, head professor of German 2, 200. 00 

Simon, Louis A., instructor m architecture 150. 00 

Smith, Charles 8., assistant professor of Greek and Latin 999. 96 

Smith, Edwin, jr., assistant in chemical laboratory 160. 00 

Sniffin, W. W., student assistant in French 100. 00 

Sterrett, J. MacBride, head professor of philosophy 1, 999. 92 

Swisher, Chas. C, head professor of history " 1,999.93 

Thurston, E. L., professor of graphics 425. 00 

Twitchell, M. W., instructor in mineralogy 56. 25 

Van Vleck, Frank, acting professor of mechanical engineering 200. 00 

Veditz, C. W. A., assistant professor of economies 1, 050. 00 

Weller, Francis R., instructor in civil engineering 300. 00 

Welsh, J. C, instructor in botany 100. 00 

Wilbur, William A., head professor of English 2, 799. 96 

Wiley, Harvey W., professor of agricultural chemistry 100. 00 

Wolff, Frank A. , professor of electric engineering 350. 00 

33, 789. 12 
Medical department. 

Acker, George N ., professor of paediatrics, clinical medicine -KO. 00 

Bovee, J. Wesley, professor of gynecology (clinical) 100. 00 

Boyd, W. A., clerk in dean's oiflce 121. 45 

Cabell, Julian M., assistant professor of obstetrics 50. 00 

Carr, W. P., professor of physiology, clinical surgery 1, 000. 00 

Carroll, James, assistant professor of pathology, bacteriology, in charge clinical laboratory in 

hospital 875. 00 

Claytor, Thos. A., professor of materia medica and therapeutics, and professor of clinical medi- 
cine 1,000. 00 

Compton, Arthur, librarian 82. 50 

Copeland, E. P., instructor in surgery 50.00 

Cook. G. W., professor of clinical medicine 120. 00 

Donnally, H. H., assistant in clinical microscopy; demonstrator of bacteriology and pathology; 

associate in clinical laboratory in hospital 300. 00 

Grasty, T. S. D., assistant in bacteriology 100. 00 

Gray, R. M 55. 48 

Hardin, B. L., associate professor of physical diagnosis 70. 00 

Homrighaus, A. H., doorkeeper 77. 00 

King, A . F . A . , prof essor of obstetrics and diseases of women and children 1 , 000. 00 

Legg, Thomas H., librarian 82. 50 

McArdle, T. E., professor of minor surgery 50. 00 

Macatee, H. C, instructor in medicine . . ." 50. 00 

Medford, H. S., instructor in obstetrics 50. 00 

Meynes, H. C, clerk to dean of medical department 77. 14 



140 FIXANCIAL CONDITIOlSr OF GEORGE WASHINGTON UNIVERSITY. 

Miller. G. B., instructor ia gynecology 550. 00 

Mitchell, J. F., professor of surgical pathology 50.00 

Morgan, F. P., materia niedica and in pharmaceutical laboratory (assistant) 75. 00 

Morse, E. E., demonstrator in obstetrics 100.00 

Muuroe, Charles E., professor of chemistry 300.00 

Newton, Elmer S., assistant in chemistry 55. 00 

Nichols, J. B., professor of normal histology 200. 00 

O'Keefe, L. E. A., clerk, office of dean 113. 85 

Phelps, Wilbur M., special services 53.50 

Phillips, \V. F. R., dean medical department; superintendent of hospital 3, 000. 00 

Potter, Charles, doorkeeper 74. 00 

Prentiss, D. W., demonstrator in normal histology and pathological anatomy 50. 00 

Ragsdale, T. E., clerk to dean 79.43 

Richardson, C. W., professor of laryngology 100. 00 

Rohrer, C. W., clerk in dean's office 63. 71 

Reichelderfer, L. H., instructor in medicine 50. 00 

Ruffin, Sterling, professor of theory and practice of medicine; professor of clinical medicine 1,000. 00 

Seibert, E. G., assistant in chemistry 300. 00 

Shands, A. R . , professor of orthopedic surgery 50. 00 

Shute, D. K., professor of anatomy and clinical ophthalmology 1 , 000. 00 

Tasker, A. N., assistant iu chemical laboratory 55. 00 

Thompson, J. Ford, professor of surgery and clinical surgery 1, 000. 00 

White, C. S., instructor in physiology.". 100.00 

White, William A. , professor of mental diseases 50. 00 

Woodward, W. C. , professor of medical jurisprudence 50. 00 

Yarrow, H. C, professor of dermatology 50.00 

13,430.56 
Dental department. 

Benson, J. H. P., professor of technics $50. 00 

Carroll, James, professor of pathology and bacteriology 50. 00 

De Farges. ,T. H., demonstrator 90. 00 

Hackney, R. E. L., demonstrator in infirmary 225.00 

Hagan, J. R . , professor of oral surgery a 100. 00 

Lewis, J. Hall, dean of dental department; professor of dental prosthetics 700. 00 

Nichols, J. B., professor of normal histology 150.00 

Thompson, Henry C:., professor of operative dentistry 500. 00 

Trail, W. H., operative dentistry, demonstrator in infirmary 275. 00 

Walton, J. R., professor of technics 100. 00 

2,240.00 
Hospital. 

Pay roll for nurses, attendants, servants, etc $~, 773. 3G 

Law department. 

Blair, Henry P., assistant professor of law of torts, personal property, domestic relations $500. 00 

Bond, Eugene Wel>ster, Dr. Tucker's secretary 214. 50 

Bradenburg, E. C, professor of bankruptcy and insolvency 300.00 

Church, Melville, professor of law of patents <'00. 00 

Clephane, W. C, professor of equity pleadings and practice; organization of coi-porations: judge 

moot court 1 , 200. Ot) 

Divine, Parker, doorkeeper 84. 40 

Earnest, J. P., professor of criminal law; criminal proceedings; and judge moot court 1,200. 00 

Goodall, Milo B., assistant librarian 202.00 

Harlan, John M., professor of constitutional law; domestic relations; torts and personal property. 4,000. 00 

Hughes, Robert M., admiralty law 375. 00 

Johnson, Wm. G., professor of common law pleadings and practice 1,000. 00 

I>atimer, J. W., clerk of moot court 320. 00 

Lorenzen, Ernest G., professor of corporations; continental law 1,800.00 

McGee, L. A., librarian 130. 00 

MacNult V, \y . G. , stenographer .37. .50 

Maury, vVm. A., professor of federal procedure and insurance 1, .'iOO. 00 

Peelej S. J., professor of law ijartnersliip, agency, bailments 1,000.00 

Peter, Arthur, professor of evidence: wills and "administration; judge moot court 1,200.00 

Potter, Edv/ard, doorkeeper "3. 80 

Smith, Homer .\. A., assistant librarian 132.00 

Tucker, H. St. G., dean and professor of equity jm'isprudence and compiler of constitutional law. . 4, 999. 92 

Vance, W. R., professor of real property and" contracts; librarian 3, 750. 00 

24,679.12 

Jurisprudence and diplomacy. 

Austin, Oscar P., professor of commercial geography $220. 00 

Brewer, David J., international public law 1, .500. 00 

Dean, Chas. Ray, assistant professor of european diplomacy 1.50.00 

Foster, John \\'., diplomacy: treaties of United States: duties of ambassadors, etc 1, 000. 00 

Hau, Carl, instructor in Konian law :3(X). 00 

Holcoml e, John W., assistant professor of comparative politics 200.00 

Hoyles, X. W., lecturer on jurisprudence, Canada 473. 00 

Knapp, M. A., interstate conunerce law 166. 67 

Monaghan, J. C, lecturer 120. 00 

Scott, George W., administrative law 600. 00 

Swisher, Chas. C., comparative politics 300. 00 

Taylor, Hannis, constitutional and common law of England 2, 500. 00 

Wright, Carroll D., statistics and social economics 550. 00 

8, 079. 67 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 141 

General expenses. 

Barber, E. F., clerk to registrar $10. 00 

Cleveland, L. M., stenographer ^ 11. 00 

De Caindry, William A ., auditor 250. 00 

Hance, E. W., stenographer and record clerk 131. 00 

Holmes, Charles W., assistant treasurer 1, 800. 00 

Hopkins, N. Monroe, to assist in raising funds 933. 28 

Mcintosh, K. C, clerk, registrar's office 100. 00 

Needham, Charles W., president 0, 000. 00 

Petty, John A., cashier and bookkeeper f32.5. 22 

Sewell, Grace A., clerk 720. 00 

Shipley, Irvel. C, clerk in registrar's office 267. 00 

Smith, E., (special) 8. 33 

Stephens, Annie L. , clerk in assistant treasurer's office 480. 00 

Swett, Otis D., registrar; instructor in chemistry 1,529. 12 

Teopfer, A.M., clerk in registrar's office, temporary 32. 00 

Watkins, Mary H. , clerk 480. 00 

Yingling, C. K., cashier and bookkeeper 111. 81 

13,488.76 
UniversUy hall. 

Colbert, Edward, messenger-janitor $228. 33 

Everman, John W., janitor 45.00 

Fallwell, E. J., fireman 150. 97 

Harris, Rixton T., janitor 406. 66 

Lanham, Charles, janitor 20. 00 

Lewis, Walter L . , janitor 350. 00 

Randolph, H., night fireman 68. 37 

Roberston, J. H., engineer 210. 00 

Williams, Q., janitor 66. 00 

Bell, John H., watchman Van Ness Park 20. 00 

Dyer, Raymond R., caretaker. Van Ness Park 78. 00 

Smackinn, Arthur, caretaker, Van Ness Park 137. 50 

Extra services of janitors at night in connection with renting of halls 23. 00 

1,803.83 
Law hall, 

Kenney, Edgar L., janitor $332.50 

Medical hall. 

Boyd, John, janitor $81. 28 

Eaton, James M., fireman 5. 80 

Forsythe, William, fireman 106. 45 

Holland, Clifford, janitor, medical hall 300. 00 

Ireland, Howard, night fireman 47. 18 

Ireland, Worth H., engineer 361. 62 

Payne, Joseph, j anitor 360. 00 

Price, Alfred 20. 87 

Scheide, Samuel H., janitor 103. 23 

Tracey, A., cleaner 14. 00 

1 400 43 
SALARIES PAID 1905-6. 

Arts and sciences ( Columbian College). 

Alden, L. Russell, instructor in history $-300. 00 

Bartsch, Paul A . , professor of zoology 320. 00 

Bassler, R. S., instructor in paleontology and stratigraphy 150.00 

Carroll, Mitchell , head professor of classical philology 2, 000. 00 

Croissant, De Witt C. , instructor in English 900. 00 

Dawson, Edward M., instructor in modern history 100.00 

Freebey, Hattie, college librarian 615.00 

Gore, J. Howard, head professor of mathematics 2,000.00 

Hall, Asaph, instructor In mathematics 200.00 

Henning, George N., head professor of romance 1,700.00 

Hill, E. A . , instructor in chemistry 400. 00 

Hopkins, N. Munroe, assistant professor of chemistry 600. 00 

Hough, Williston S. , professor of philosophy 800. 00 

Keith, Oscar L. , instructor in romance languages 800. 00 

McWhorter, A. W., instructor in Greek and Latin 900.00 

Merrill, George P. , professor of mineralogy and geology 550. 00 

Outwater, Raymond , instructor in assaying 100. 00 

Peck, Paul Noble, instructor in mathematics and assistant in Greek 500. 00 

Price, Thomas M. , instructor in chemistry 400. 00 

Quick, Oscar, instructor in physics 200. 01 

Schmidt, Alfred F. W. , instructor in German 200. 01 

Schoenfeld, Herman, head professor of German 2,200.00 

Smith, Charles S., professor of Greek and Latin 100.00 

Smith, Edwin, jr. , assistant in chemical laboratory 175. 00 

Sterrett, J. MacBride, head professor of philosophy 2, 000. 00 

Swett, Otis D., instructor in chemistry 300.00 

Swisher, Charles C. , head professor of history 2, 000. 00 

Veditz, C. W. A. , assistant professor of economics 1 > 800. 00 

Veerhoff, Otto L. , assistant in German 100. 00 



142 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

Wilbur, William A. , head professor of English $2, 800. 00 

Ilsley, A. B.,1 instructor in civil engineering 33.33 

Munroe, Charles E., head professor of chemistry (salary from Sept. 1 to Nov. 30, at $3,300; for 

balance of year see "Graduate studies." See also Medical department) 825.00 

26, 168. 35 
Engineering. 

Allison, Isaac E. , instructor in graphics $250. 00 

Betts, Philander, assistant professor of electrical engineering 1, 200. 00 

Dunstan, Edwin V. , instructor in civil engineering 800. 00 

Hairston, Robert, janitor 336. 00 

Hodgkins, H. L., head professor of physics and professor of mathematics 2.800.00 

Ilsley, Arthur B.,2 instructor in civil engineering 66.68 

Irby , Charles R. , night man 153. 33 

Muir, Edward A. , assistant professor of graphics 300. 00 

Pressey, Henry A., professor of civil engineering 1,200.00 

Smackum, Arthur, caretaker at Van Ness Park 75. 00 

Van Vleck, Frank, professor of mechanical engineering 83. 31 

Woodward, Sherman M. , acting assistant professor of mechanical engineering 100. 00 

7,364.32 
A rchitecture. 

Ash, Percy, head professor of arcliitecture $2, 000. 00 

Bibb, Albert B., professor of architecture 1,000.00 

Illman, Hubert P. , student assistant 34. 37 

Molby, F. L., instructor in freehand drawing 183. 00 

Eemey, Chas. Mason, instructor in architecture 112. 50 

Donn, E. W., jr., instructor in architecture 25.00 

Wyeth, Nathan, instructor in architecture 25. 00 

3,379.87 
Graduate studies. 

Abbott, Brig. Gen. Henry L. , professor of hydraulic engineering $40. 00 

Buckingham, Edgar, lectm'er on thermodynamics 160. 00 

Mann, Albert, professor of botany 40. 00 

Miuiroe, Charles E.,3 head professor of chemistry 2,475.00 

Price, Thomas M. , instructor in bio-chemistry 200. 00 

Rosa, Edward B., professor of physics 40. 00 

Scott, J. B , 40.00 

Stanton, Timothy W. , assistant professor of paleontology 40. 00 

Sternberg, George M., professor of preventive medicine 40. 00 

Wiley, Harvey W. , professor of agricultural chemistry 80. 00 

Woodward, Sherman M., acting assistant professor of mechanical engineering 100. 00 

3,255.00 

Politics and diplomacy. 

Austin, Oscar P. , professor of commercial geography S280. 00 

Brewer, David J., international public law 1 . 500. 00 

Dean, Charles Ray, assistant professor of European diplomacy ■. . 50. 25 

Dodd, Walter'E. ."instructor in political science 100. 00 

Foster, John W., diplomacy and treaties of the United States, duties of ambassadors, etc 1,000. Oo 

Holcombe, John W., a,ssistant professor of comparative politics 200. 00 

Hough, Williston S. , professor of philosophy 900. 00 

Monaghan, James C, consular service 240. 00 

Scott, George W., administrative law 800. 00 

Swisher, Charles C, comparative politics 300.00 

Taylor, Hannis, constitutional and common law of England 2, 500. 00 

Willis, H. Parker, professor of finance 1 , 200. 00 

9.076.25 
Medical department. 

Acker, George N., professoi' of paediatrics and clinical medicine. $50. 00 

Boarman, A. S., assistant librarian 55. 00 

Bovee, J. Wesley, professor of gynecology 100. 00 

Brandenburg, Dr. W. R., temporary appointment 33. 32 

Brown, Ernest W. , assistant in chemistry 55. 00 

Butler, W. K., professor of ophthalmology 50.00 

Cabell, Julian M., as.sistant professor of obstetrics 50. 00 

Carr, W. P., professor of physiology and professor of clinical surgery 1, 000. 00 

Carroll, James, assistant professor" of pathology and bacteriology in charge of clinical labora- 
tory in hospital ; 800.00 ■ 

Clay tor, Thomas A . , professor of materia medica and therapeutics, and professor of clinical medi- 
cine 1.000. 00 

Conklin, C. B., librarian 110. 00 

Cook, G. W. , professor of clinical medicine 1 20. 00 

Copeland, E. P., instructor in surgery 50. 00 

Donnally, H. H., assistant in clinical microscopy, demonstrator in bacteriology and pathology 

and associate in clinical laboratory and in ho.s'pital 175. 00 

1 See also College of Engineering for balance of Ilsley's salary. 

2 See also S33.33 charged to Columbian College. 

' Salary from Dec. 1 to Aug. 31 at S3. 300 per annum. Salary from Sept. 1 to November 30, amounting 
to $825, charged to Columbian College (arts and sciences). 



FINANCIAL, CONDITION OF GEORGE WASHINGTON UNIVEESITY. 143 

Grasty , T. Si D. , assistant in bacteriology $100. 00 

Gray, R. M., clerlj, dean's office 480. 00 

Hardin, B. L., leetuier on physical diagnosis 35. 00 

Homiighaus, A. H., doorkeeper 80. 00 

King, A. F. A., professor of obstetrics and diseases of women and children 1,000. 00 

Lindsey, Dr. John H., assistant professor and cixrator of pathological museum (medical), and chief 

medical dispenser on stati' of hospital 750. 00 

McArdle, T. E., professor of minor surgery 50. 00 

Macatee, H. C. , instructor in medicine 50. 00 

Medford, H. S., instructor in obstetrics 50. 00 

Miller, G. B., instructor in gynecology 50. 00 

Mitchell, J. F., professor of surgical pathology 50. 00 

Morse, E. E., demonstrator in obstetrics 100. 00 

Munroe, Charles E., professor of chemistry 300. 00 

Newton, Elmer S., instructor 100. 00 

Nichols, J. B., professor of normal histology " 200.00 

Phillips, W. F. R., dean medical department; superintendent hospital 3, 000. 00 

Potter, Chas., doorkeeper 94. 00 

Prentiss, D. W. , assistant professor histology 50. 00 

Reichelderfer, L. H. , instructor medicine 50. 00 

Richardson, C. W., professor of laryngology 100.00 

Ruffln, Sterling, professor of theory and practice of medicine; professor clinical medicine 1, 000. 00 

Seibert, E.G., assistant professor in chemistry 400. 00 

Shands, A. R., professor orthopedic surgery 50. 00 

Shute, D . K. , professor anatomy and clinical opthalmology 1, 000. 00 

Tasker, A. N. , assistant chemical laboratory 55. 00 

Taylor, L. H. , instructor in clinical medicine 120. 00 

Thompson, J. Ford, professor surgery and clinical surgery 1, 000. 00 

White, C. S., instructor in physiology 100. 00 

White, William A., professor mental diseases 50. 00 

Woodward, W. C. , professor medical jurisprudence 50. 00 

Yarrow, H. C, professor dermatology and clinics 50. 00 



14,212.32 
Dental department. 

Bassett, Charles T., demonstrator in charge of infirmary $585. 00 

Benson, J. H. P. , professor technique ". 50, 00 

Donally, H. H., instructor pathology 50. 00 

Hagan, J. R. , professor oral surgery 50. 00 

Hall, Lewis J. , dean dental department; professor dental prosthetics 700. 00 

Nichols, J. B. , professor normal histology 75. 00 

Taylor, L. H. , assistant professor physiology 200. 00 

Thompson, Henry C, professor operative dentistry 600. 00 

Trail, W. H., assistant professor materia medica 200. 00 

Walton, J. R., professor technique 100. 00 

2,510.00 
Hospital. 

Pay roll for nurses, attendants, servants, etc 88, 243. 07 

Law department. 

Blair, Henry P. , professor of law $700. 00 

Brandenburg, E . C. , professor of bankruptcy and insolvency 500. 00 

Clephane, W. C, professor equity pleadings and practice; organization of corporation; judge 

moot court 1, 200. 00 

Divine, J. P., doorkeeper 99. 40 

Earnest, J. P. , professor criminal law; criminal proceedings, and judge moot court 1, 200. 00 

Goodall, Milo B., librarian 260. 00 

Harlan, John M. , professor of law 3, 000. 00 

Hughes, Robert M., admiralty law 375. 00 

Johnson, William G., professor common law pleadings and practice 1, 000. 00 

Latimer, John W., clerk moot court 500. 00 

McGee, L. A., librarian , 260. 00 

Maury, Wm. A., professor federal procedure and insurance 1, 500. 00 

Needham, C. W., professor of law 240. 00 

Nerinox, Alfred, professor of law 600. 00 

Peele, S. J., professor law, partnership, agency, and bailments 1, 000. 00 

Peter, Arthur, professor evidence, wills, and administration; judge moot court 1, 200. 00 

Potter, Edw 54. 40 

Scott, James Brown, professor of law 1, 688. 75 

Tucker, H. St. G., dean and professor equity jurisprudence; and compiler of constitutional law. . 416. 66 

Turner, R. H., clerk, law department 316. 67 

Vance, William R., professor of law, and dean department law and jurisprudence 4, 200. 00 

20,310.88 
Patent law. 

Chui'ch, Melville, professor of law of patents $600. 00 

Duell, Judge Chas. H. L. , lecturer on substantive patent law 100. 00 

700. 00 
Jurisprudence. - . 

Hau, Carl, assistant professor of law $600. 00 

Lorenzen, Ernest G., professor of law 2, 100. 00 

2,700.00 



144 FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVEESITY. 

General expense. 

Carroll. Mitchell, dueclor univftrsity publication $500. 00 

Da3', Dr. Frank L., conesponding secretary; professor of biblical literature 1,050.02 

DeCaindry, William A., auditor 250.00 

Hance, E. W., .stenographer and record clerk 480. 00 

Holmes, Charles W. , assistant treasurer 1 . SCiO. 00 

Hopkins, N. Monroe, special salary September and October, 1905 233. 32 

Manning, Helen 64. 65 

Needham. Charles W., president 6, 000. 00 

Petersoa, F. W., stenographer 309. 68 

Petty, John A., receiving teller and bookkeeper S30. 00 

Sewell, Grace A., clerk president's office 720. OO 

Stephens, Annie L., clerk 165. 00 

Swett, Otis D., registrar 1,400. 00 

Umhau, Christine, stenographer 235. 20 

Watkins, Mary H., clerk". 480. 00 

Extra help 118. 00 



14,6.35.87 
University hall. 

Barton, Walter, day porter $52. 50 

Brown, Charles, night fireman 105. 00 

Colbert, Edward, janitor 286.00 

Davis, J. H., night janitor ■. 47. 00 

Dougherty, William, engineer SO. 00 

Everman, J. W., janitor 77. OO 

Harris, Rickson, janitor 390. 66 

Jackson, Robert, day fireman 222. 13 

Matthews, Charles, day fireman 82. 00 

Noble, Wayman, night janitor 22. 26 

Robertson,' J. H., engineer 690.00 

E xtra ser vices , j anitors at nigh t in connection with renting of halls 21 . 00 

Extra help, laborers, and substitute Janitors 10. 84 

2.096.39 
Law hall. 

Everman, J. W., janitor $316. 16 

Medical hall. 

Boyd, John, fireman $153. 38 

Claytor 161. 03 

Jefferson, Robert H., janitor 64. OO 

Liggins, Jos 15. 48 

Lucas, George, fireman 193. 45 

Payne, Joseph, janitor 360. 00 

Scheide, Samuel H., janitor 270.00 

Thoma.s, W. F. , janitor 86. 13 

Extra help 11. 00 

1,314.47 
SALARIES PAID, 1906-7. 

Arts a7bd sciences ( Columbian College). 

Bartsch, Paul, professor of zoology $400. 00 

Bassler, Ray S., assistant professor of geology and mineralogy 300. 00 

Brown, R. be S., assistant in chemistry 55. 00 

Carroll, Mitchell, professor of classical philosophy 2,000. OO 

Connor, Lulu E., assistant in library 202. 00 

Croissant, DeWitt C, assistant professor of English 900. 00 

Ellis, Harriet S., dean of Avomen 800.00 

Gore, James Howard, professor of mathematics 2, 000. 00 

Henning, George N., professor of romance languages 1,700. 00 

Hill, E. A., assistant professor of chemistry 400. 00 

Hillyer, W. E., assistant in chemistry 150. 00 

Hough, Williston S., professor of philosophy 983. 32 

Keith, O. L., instructor in romance languages 945. 00 

MacmUlan, Julia T., student assistant in zoology 75. 00 

Mann, Prof. Albert, professor of botany 400. 00 

Merrill, G. P., professor of geology and mineralogy 400. 00 

Peake, James F., instructor in history 700. 00 

Peck, P. N., assistant professor of mathematics 900. 00 

Price, T. M., assistant professor of chemistry 600.00 

Schmidt, A. F. W., assistant professor of German and librarian 1,600. 00 

Schoenfeld, Herman, professor of German 2,200. 00 

Scott, Mabel L., assistant in library 127. 00 

Smith, Charles S., assistant professor of Greek and Latin 1,000. 00 

Smith, Edwin, assistant in chemistry 140. 00 

Sterrett, James MacB., professor of philosophy" 2,000. 00 

Swett, O. D., instructor in chemistry 300.00 

Swisher, Charles C, professor of history 2,000. 00 

Wilbur, William A., dean of Columbian College; .professor of English 3,000. 00 

26,297.32 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 145 

Engineering. 

Betts, P., assistant professor of electrical engineering 11,300.00 

Bond, R. W., assistant in library 152. 00 

Dunstan, E. V., instructor in civil engineering 1,000.00 

Hairston, Robert, janitor. Van Ness Building 360. 00 

Hodgkins, Howard L., dean of engineering and professor of physics 3, 000. 00 

Maguire, T. F. J., instructor in electrical engineering 162. 50 

Mechlin, O. A., instructor in civil engineering 900.00 

Muir, Edward A., assistant professor of graphics 300.00 

Press, A., instructor in electrical engineering 50. 00 

Vamey, E. W., instructor in physics and electricity 300. 00 

Willard, Arthur C, instructor in mechanical engineering 900. 08 

Young, Geo., night man. Van Ness Building 190. 32 

8,614.82 
Architecture. 

Ash, Percy, professor of architecture $2, 000. 00 

Bibb, A. B., professor of architecture 1,000. 00 

lUman, H. P., assistant in architecture 85. 00 

Jackson, H. E., assistant in Prof. Ash's office 40. 00 

Molby, F. L., instructor in free-hand drawing 177. 00 

Remey, Charles M., instructor in architecture 512. 50 

3,814.50 
Graduate studies. 

Abbe, Cleveland, professor of meteorology 840. 08 

Hall, Asaph, professor of astronomy 80. 00 

Hough, W. S., professor of philosophy 160. 00 

Mann, Albert, professor of botany 40. 00 

Merrill, G. P., professor of geology and mineralogy 120. OO 

Munroe, Charles E., head professor of chemistry 3,300. 00 

Press, A., lecturer on electrical engineering 60. 00 

Price, T. M. , assistant professor of chemistry 80. 00 

Rosa, E. B., professor of physics 40. 00 

Stanton, T. W., assistant professor of paleontology 80.00 

Sternberg, G. M., professor of preventive medicine 40. 00 



4,040.00 
Politics and diplomacy. 

Hough, Williston S., professor of philosophy $900. 00 

Swisher, Charles C, professor of history and polities 300.00 

Veditz, C. W. A., acting dean and professor of economics 2, 450. 00 

3,650.00 
Medical department. 

Acker, George N. , professor of pediatrics and clinical medicine 850. 00 

Bovee, J. W., professor of gynecology 100.00 

Butler, W. K. , professor of ophthalmology 50. 00 

Cabell, J. M. , assistant professor of obstetrics SO. 00 

Carr, W. P. , professor of surgery 1, 000. 00 

Carroll, James, professor of bacteriology and pathology 800. 00 

Clark, A. P., assistant in chemistry 55.00 

Clarke, Gertrude N. , clerk in office of dean 326. 29 

Claytor. T. A., professor of materia medica and therapeutics 1,000.00 

Cook, G. W., professor of clinical medicine 120. 00 

Copeland, E. P., instructor in surgery and pediatrics 50. 00 

Donnally , H. H. , assistant professor of bacteriology 87. 50 

Franz, S. I., professor of psychology 1,000.00 

Frey, J. P., assistant in chemical laboratory 55.00 

Grasty , T. S . D . , assistant professor of bacteriology and pathology 100. 00 

Gray, R. M., clerk, medical school 56. 78 

' Homrighaus, A. H., doorkeeper 80. 00 

Johnson, Christine W. , temporary clerk 12. SO 

King, A. F. A., professor of obstetrics 1,000.00 

Lindsey, J. H., assistant professor of clinical medicine and curator of pathological museum 1,500.00 

McArdle, T. C 50.00 

McLaughlin, W. F. , librarian 112. 00 

Macatee, H. C, instructor in medicine and clinical instructor 50.00 

Medford, H. S., instructor in obstetrics 50.00 

Miller, G. B., instructor in gynecology 50.00 

Morse, E. E., assistant professor of obstetrics 50.00 

MunroCj Charles E., head professor of chemistry 300.00 

Newton, E. S., instructor in chemistry 100.00 

Nichols, J. B., proffessor of histology 400. 00 

Phillips, W. F. R., dean medical department professor of hygiene and practical anatomy 3,000.00 

Prentiss, D. W., assistant professor of histology 50.00 

Reichelderfer, L. H. , instructor in medicine 50. 00 

Richardson, C. W., professor of laryngology and otology 100.00 

Ruffin, Sterling, professor of theory and practice of medicine 1, 000. 00 

Seibert, E. G., assistant professor of chemistry 400.00 

Shands, A. R., professor of orthopedic surgery 50.00 

Shuts, D. K., professor of anatomy 1, 000. 00 

68966— H. Doe. 1060, 61-3 ^10 



146 FIIS^ANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

Taylor, L. H., assistant professor of physiology S120.00 

Thompson, J. L., instructor in surgery 50. 00 

White, C. S., assistant professor of physiology 100. 00 

White, W. A. . professor of mental diseases 50. 00 

Willis, J. M., librarian 112. 00 

Woodward, W. C, professor of medical jurisprudence 50.00 

Yarrow, H. C. , professor of dermatology 50. 00 



14, 837. 07 
Dental department. 

Bassett, C. T. , demonstrator in charge of infirmary $585. 00 

Benson, J. H. P., professor of operatiye technics 50. 00 

Hagan, J. R. , professor of oral surgery 50. 00 

Lewis, J. Hall, dean and professor dental prosthetics 700. 00 

Nichols, J. B., professor of histology 75.00 

Taylor, L. H. , assistant professor of histology 200. 00 

Thompson, H. C, professor of operative dentistry 500.00 

Trail, W. H. , assistant professor of materia medica 200. 00 

Walton, J. R. , professor of prosthetic technics 100. 00 

'I, 2, 460. 00 

Hospital. 

Pay roll for nurses, attendants, servants, etc $8, 593. 43 

Law department. 

Blair, H. P., professor of law SI, 000. 00 

Brandenburg, E.G., professor of law 500. 00 

Brewer, D. J., professor of international public law 1,500.00 

Christensen, A. , assistant librarian 262. 00 

Clark, J. R. , professor of law 100. 00 

Clephane, Walter C, professor of law 1, 200. 00 

Dennis, W. C. , professor of law 1, 100. 00 

Di\'ine, D. P. , doorkeeper 86. 00 

Divine, J. P., doorkeeper 102.40 

Earnest, John Paul, professor of law 1, 200. 00 

Harlan, John M. , professor of law 3, 000. 00 

Hau, CarL assistant professor of law 100. 00 

Hughes, P. W., stenographer and typewriter 355.00 

Latimer, John W. , clerk moot court 499. 92 

Lorenzen, E. G. , professor of law 2, 400. 00 

Needham, Charles W. , professor of law 1 , 200. 00 

Peelle, Stanton J., professor of law 1,000.00 

Peter, Arthur, professor of law 1, 200. 00 

Rehr, P. A., assistant librarian 262. 00 

Scott, James B., professor of law 3, 500. 00 

Thurston, Edward S. , assistant professor of law 1 , 800. 00 

Vance, W. R. , dean and professor of law 4, 500. 00 

26,867.32 
Patent law. 

Church, Melville, professor of law of patents $600. 00 

General expense. 

Carroll, M., chairman board of publications $500. 00 

Day, F. L., professor of Biblical literature and corresponding secretary 1, 400. 00 

De Caindry, W. A., auditor 250. 00 

Hance, E. W. , clerk registrar's office 540. 00 

Holmes, C. W. , assistant treasurer 2, 037. 50 

Needham, C. W. , president 6, 000. 00 

Petersen, F. W. , clerk, assistant treasurer's office 480. 00 

Petty, J. A., teller 950.00 

Seweli, G. A., clerk private office 720. 00 

Swett, O. D., registrar 1, 400. 00 

Umhau, C. U.^ clerk, assistant treasurer's office 360.00 

Watkins, M. H., clerk to Dean Wilbur 540.00 

Wilhelm, D. , stenographer and typist 229. 84 

Extra help 82. 00 

15, 489. 34 
University Hall. 

Barnes, A. , nightman $15. 81 

Barton , Walter, porter, fireman 127. 91 

Colbert, Ed., janitor 285. 00 

Dougherty, Wm.^ engineer 720. 00 

Harris, Rickson, janitor 394. 67 

Jackson, Hayes, nightman 140. 00 

Jackson, Robert, night fireman 49. 00 

Simmons, Geo. H., nightman 106.69 

Stewart, L. H. , fireman 33. 48 

West, Johnson, day fireman 61. 00 

Jefferson, R. H., fireman 2. 00 

Chambers, Richard, laborer 4. 03 

1,939.59 
Law Hall. 

Everman, John W., janitor .». ; $407. 50 



FINAJSrCIAL CONDITIOlSr OP GEOEGE WASHINGTON UNIVERSITY. 147 

Medical Hall. 

Carter, J. M $204. 00 

Chambers, A. , day fireman ^ 183. 28 

Claytor, W. J. , janitor 76. 00 

Hopkins, Jacob, fireman 214. 50 

Payne, Joseph, janitor 369. 00 

Scheide, S. H., janitor 300. 00 

Wells, A. H., day fireman 10. 00 

Substitute janitor 3. 00 

1,359.78 
SALARIES PAID 1907-8. 

Arts and sciences (Columbian College). 

Bache, Louise, assistant in library $37. 50 

Bassler, R. S., instructor in geology 300.00 

Baulig, Henri, instructor in romance languages 1, 000. 00 

Carroll, M., professor of classical philology 2, 000. 00 

Clift, L. L., assistant in library 77. 00 

Conner, Lulu, assistant in library 48. 25 

Croissant, D. C, assistant professor of English 1, 000. 00 

Custis, Horace H., assistant in chemistry 580. 02 

Ellis, H. S., dean of women and instructor in English 800.00 

Fischer, Walter, instructor in botany 400. 00 

■Gore, J. H. , professor of mathematics 2, 000. 00 

Hendry, M. W., instructor in Greek and Latin 200. 00 

Henning, G. N., professor romance languages 1, 800. 00 

Hill, E. A., assistant professor of chemistry 400. 00 

Macmillan, Julia, assistant in zoology 150. 00 

Marsh, C. Dwight, professor of zoology 150. 00 

Merrill, G. P., professor of geology and mineralogy 400. 00 

Peake, J. P., instructor in history 800. 00 

Peck, P. N., assistant professor of mathematics 1, 000. 00 

Price, T. M., assistant professor of chemistry 600. 00 

Schmidt, A. F. W., librarian and assistant professor of German 1, 700. 00 

Schoenfeld, H., Professor of German 1, 900. 00 

Schoenfeld, H. F. A., instructor in history 100.00 

Schulz, W. B., instructor in German 300.00 

Smith, C. S., assistant professor of Greek and Latin 1, 100. 00 

Sterrett, J. M.j professor of philosopfiy 2, 000. 00 

Swett, O. D., mstructor in chemistry 300.00 

Swisher, C. C, professor of history . .' 2, 000. 00 

Wilbur, W. A., dean of Columbia College; professor of English 3, 000. 00 

26, 142. 77 
Engineering department 

Betts, P. , assistant professor of electrical engineering $1, 300. 00 

Dunstan, E. V., assistant professor of civil engineering 1,100.00 

Hodgkins, H. L. , dean of engineering and professor of physics 3, 000. 00 

Matthews, M. Alice, assistant librarian 720. 00 

Mechlin, O. A., assistant professor of civil engineering 1, 000. 00 

Mortimer, C. W., instructor in electrical engineering 1,000. 00 

Smallwood, J. C, instructor in mechanical engineering 900. 00 

Starr, F. C, instructor m civil engineering 900. 00 

Varney, E. W., instructor in physics 200. 00 

Willard, A. C. , assistant professor of mechanical engineering 1, 000. 00 

11, 120. 00 

Architecture. 

Ash, P., professor of architecture $2, 000. 00 

Bibb, A. B., professor of architecture 1, 100. 00 

Lombard, C. , assistant in architecture 60. 00 

Remey, C. M. , instructor in shades, shadows, designs 700. 00 

3,860.00 
Graduate studies. 

Buckingham, E., lecturer in thermodynamics $120.00 

Cohen, Louis, assistant professor of mathematics 120. 00 

Franz, S. I., professor of experimental psychology 100. 00 

Hough, W. S. , professor of philisophy ..." 350. 00 

Merrill, G. P., professor of geology arid mineralogy 100. 00 

Munroe, Charles E. , head professor of chemistry; dean of graduate studies 3, 300. 00 

Nutting, P. G., assistant professor of physics 40.00 

Price, T. M., assistant professor of chemistry 170. 00 

Rosa, E. B., professor of physics 40. 00 

Stanton, T. W. , assistant professor paleontology 20. 00 

Sternberg, G. M., professor of preventive medicine 40. 00 

Wiley, H. W., professor agricultural chemistry 40.00 

4,440.00 
College of the political sciences. 

Austin, O. P., professor of commerce and statistics $325.00 

McBain, H. L. , instructor in political science. 1, 200. 00 

Manning, W. R., assistant professor of diplomatic history 1, 400. 00 

Osborne, J. B., lecturer on Consular Service 200. 00 



148 FINANCIAL CONDITION" OF GEOEGE WASHINGTON TJNIVEESITY. 

Peck, G. C, clerk to Dean Veditz $465.00 

Swisher. C. C, professor of history and politics 300.00 

Willis, H. P. , professor of finance 700. 00 

Veditz, C. W . A. , professor of economics; dean college of political sciences 2, 700. 00 

Willoughby, W. W ., professor of political science 1, 000. 00 

Extra help 119. 00 

8, 409. 00 
Education. {Teachers' college.) 

Albee, H. R., assistant in applied design S12. 80 

Black, W. W ., lecturer on education 300. 00 

Brown, E. E., lecturer on education 100.00 

Chancellor, W. E., lecturer on education 400. 00 

Hough, W. S., professor of philosophy: in charge of division of education 2,300.00 

Johnston, M. F. , assistant in library 46. 87 

Kramer, S. E., lecturer on education 100.00 

Lane, Marian, assistant in applied design 58. 00 

Michie, Harry S. , director and instructor in applied design 242. 80 

Myers, G. E., lecturer on education 300. 00 

Ruediger, W. C. , assistant professor of educational psychology 1, 600. 00 

Shepherd, W. T., assistant in library 22.50 

Small, W. S^ lecturer on education 300.00 

Thompson, Frances L. , assistant in applied design 63. 20 

5,846.17 
Medical department. 

Acker, G. N., professor of pediatrics and clinican medicine $50. 00 

BarreU, Louise C, clerk, dean's office, temporary 28. 22 

Bovee, J. W., professor of gynecology 100. 00 

Butler, W. K., professor of opthalmology 50. 00 

Cabell, J. M., assistant professor of obstetrics 50. 00 

Carr, W . P . , acting professor of surgery 83. 33 

Carroll, James 66. 66 

Chappell, Sidney L., librarian 112. 00 

Clark, A. P., assistant in chemistry 55. 00 

Clarke, G. N., clerk in office of dean.: 215.65 

Claytor, T. A., professor of materia medica and therapeutics 1,000.00 

Cook, G. W., professor of clinical medicine 120. 00 

Copeland, E. P., instructor in surgery 50. 00 

Donnally , H . H. , assistant professor of bacteriology and pathology 100. 00 

Elliott, H . R ., Instructor in physiology 100. 00 

Falconer, H. H., doorkeeper 58. 40 

Franz, Shepherd I., professor of physiology 1, 000. 00 

Fremont Smith, F., clinical instructor in medicine 50. 00 

Grasty, T. S. D., assistant professor of bacteriology and pathology 100.00 

Haynes, Guard, janitor 25. 81 

Homrighaus, A. H., doorkeeper 20. 00 

Hornaday, Frank A., assistant in chemistry 55. 00 

Jannier, Frank, janitor in pathological laboratory 175. 00 

King, A. F. A., professor of obstetrics 1,000.00 

Kinyoun, J, J., professor of bacteriology and pathology 1, 500. 00 

Lindsev, J. H., assistant professor of cUnical medicine and curator of pathological museum 1,500.00 

McLaughlin, William F., librarian 112.00 

Macatee, H. C, instructor in medicine 50.00 

Medford, H. S. , instructor in obstetrics SO. 00 

Miller, G. B., instructor in gynecology 50. 00 

. Morse, E. E., assistant professor of obstetrics 50.00 

Munroe, Charles E., professor of chemistry 300.00 

Nichols, J. B., professor of histology 400. 00 

Phillips, W. F. R., dean and professor of hygiene and practical anatomy 3, 000. 00 

Prentiss, D. W., assistant professor of histology 50.00 

Reichelderfer, L. H., instructor in medicine 50. 00 

Richardson, C. W., professor of laryngology and otology 100. 00 

Ruffin, S., professor of theory and practice 1,000. 00 

Seibert, E.G., assistant professor of chemistry 400. 00 

SeUner, A. E., stenographer to dean 175. 00 

Shands, A. R., professor of orthopedic surgery 50. 00 

Shute, D . K^ professor of anatomy 1, 000. 00 

Sowers, W. F. M., assistant professor of surgery 40. 00 

Stark, Albert, janitor 16. 32 

Taylor, L. H., assistant professor of surgery 420. 00 

Thompson, J. L., Instructor in surgery 50. 00 

WaUer, C. E . , assistant in anatomical and physiological laboratory 

White, W. A., professor of mental diseases 50. 00 

Woodward, W. C, professor of medical jurisprudence 50. 00 

Yarrow, H. C, professor of dermatology and clinics 50. 00 

16,178.39 

Dental department. 

Bassett, C. T., assistant professor In charge of infirmary $585. 00 

Benson, J. H. P., professor of operative technics 100.00 

De Farges, J. R., professor of oral surgery 50. 00 

Hagan, Jonathan R., assistant professor of materia medica and therapeutics 250. 00 

Lewis, J. H., dean and professor of dental prosthetics 700. 00 

J^ichols, J. B., professor of histology 75 00 



FINANCIAL CONDITION" OF GEOEGE WASHINGTON UNIVERSITY. 149 

Thompson, H. C, professor of operative dentistry S500. 00 

Walton, J. E., professor of prosthetic technics 100.00 



2,360.00 

Hospital. 

Eeichelderfer, L. H., medical director (at $75 per month) $750. 00 

Yingling, C. K., superintendent (at $1,000 per annum) 416. 66 

P.ayroll for nurses, attendants, and servants, etc 9, 421. 58 

10, 588. 24 
Law department. 

Bischoff, F. A., doorkeeper $75. 20 

Blair, H. P., professor of law i^ ooo. 00 

Brandenburg, Edwin, professor of law 800. 00 

Brewer, D. J., professor of international law 1, oOO. 00 

Buhrman, Alfred G., clerk moot court 150.00 

Christensen, Andrew, assistant librarian .' . 262. 00 

Clark, J. R., assistant professor of law 250. 00 

Clephane, W. C, professor of law 1, 200. 00 

Dennis, W. C, professor of law 800. 00 

Divine, J. P., doorkeeper 70.80 

Earnest, J. P., professor of law 1, 20o! 00 

Harlan, J. M., professor of law 3, 000. 00 

Latimer, J. W., instructor in law 500. 00 

Lorenzen, E.G., professor of law 2, 700. 00 

Needham, C. W., professor of law 1,200.00 

Peelle, S. J., professor of law 1,000.00 

Peter, A., professor of law 1^ 200. 00 

Rehr, Paul A., assistant librarian 262. 00 

Schultz, D. H., secretary to Dean Vance 465. 00 

Scott, J. B., professor of law 3^ 500. 00 

Thurston, E. S., assistant professor of law 2, 500. 00 

Vance, W. R., dean 4, 750. 00 

Willis, H. P., professor of law 200. 01 

28, 085. 01 
Patent law. 

Church, M., professor of the law of patents S600. 00 

General expense. 

Butler, A. C, clerk, treasurer's office SSO. 00 

Carroll, M., director, board of university publications ■ 500. 00 

Collamore, Effie, stenographer to I. St. Deans 322. 00 

Compton, L. C, clerk, treasurer's office 500. 00 

De Caindry, W. A., auditor 250. 00 

Hance, E. W.. stenographer and clerk, registrar's office 600. 00 

Holmes, G. W., treasurer 2,100.00 

Needham, C. W., president of the university 6, 000. 00 

Petersen, F. W., stenographer to treasurer . .". 550. 00 

Petty, J. A., cashier in treasurer's office 1, 080. 00 

Sewell, G . A., stenographer to president 720. 00 

Stowell, Ellery C, special assistant to president and secretary college of the political sciences. . . 750. 00 

Swett, O. D., registrar 1, 400. 00 

Umhau, C., stenographer and clerk, treasurer's office 62. 90 

Watkins, M. H., stenographer to professor Wilbur 600. 00 

Webster, J. W., telephone 270. 48 

Extra clerical help 113. 00 

15,898.38 

University hall. 

Bridgefort, John, day porter $268. 74 

Dougherty, W., engineer 662. 00 

Everman, J. W., head janitor 476. 25 

Harris, R. T., janitor 400. 00 

Schatz, E., engineer 31. 61 

Simmons, G. H., night janitor 332. 50 

S wagart, Harry, messenger 80. 00 

Various, temporary help 25. 00 

2, 276. 10 
Law hall. 

Colbert, E. , janitor $332. 66 

Medical hall. 

Forsyth, William, night fireman $248. 94 

Fox, George, janitor 109. 19 

Hopkins, J., fireman 255. 00 

McFail, Thornton, janitor dental department 120. 00 

Payne, J., janitor 375. 00 

Payne, R., janitor 166. 56 

Scheide, S. H., janitor 75. 00 

Various, temporary janitors 48. 00 

1, 397. 69 



150 PiisrAisrciAL condition of geoege Washington university. 

University annex. 

Brown, C. H., janitor $25. 00 

Colbert, Henry, janitor 225. 00 

Green, Robert , janitor 51. 00 

Hairston, K. L., janitor 385.00 

Young, George, nightman , 181. 00 

867. 00 
Dormitory. 

Adams, Ida, housekeeper, women's building 1373. 33 

Barrett, Julia, cook .33. 17 

Brooks, Frank, butler 71. 61 

Jeflers, Mattie, laundress 101. 68 

Jeffress, Walter, butler 64. 16 

Thornton, Martha, cook 40. 00 

ITpton, Annie, cook 49. 03 

Various, temporary servants 119. 81 

852. 79 
Building site enlargement fund. 

Carroll, Mitchell, chairman of committee $333. 32 

Harlan, Richard D., special representative 2, 738. 46 

3,071.76 
SALARIES PAID 1908-9. 

Columbia College. 

Bache, Louise, assistant in library $52. 00 

Bassler, R. S., instructor in geology 300.00 

Carroll, Mitchell, professor of classical languages 2, 200. 00 

Churchill, G. M., instructor in American history 150.00 

Clift, Linda, assistant in library 77. 00 

Croissant, D. C, assistant professor of English 1, 000. 00 

Ellis, H. S., dean of women 800. 00 

Gore, J. H., professor of mathematics 2, 200. 00 

Henning, G. N., professor of romance languages 1, 800. 00 

Hill, E. A., assistant professor of chemistry 400.00 

Kornhauser, Sidney I., instructor in biology 900. 00 

Lawrence, Glenn R., student assistant in mathematics 150. 00 

Maxcy, Kenneth F., student assistant in biology laboratory 40.00 

Merrill, G. P., professor of geology and mineralogy 400. 00 

Peake, J. F., assistant professor of history 1, 000. 00 

Peck, P. N., assistant professor of mathematics 1, 000. 00 

Price, Thomas M., assistant professor of biochemistry 300. 00 

Schmidt, A. F. W., lil^rarian and assistant professor of German 1, 975. 00 

Schoenfeld, Hermann, professor of German 2, 200. 00 

Schoenfeld, Arthur, assistant in history 115. 00 

Smith, C. S., assistant professor of Greek and Latin 1, 100. 00 

Sterrett, J. M., professor of philosophy ; 2, 000. 00 

Swett, O. D., instructor in chemistry 1, 600. 01 

Swisher, C. C, professor of history. ." 2, 000. 00 

Wilbur, W. A., dean of Columbia College and professor of English 3, 000. 00 

Woodbridge, B. M., instructor in romance languages 900. 00 

27, 659. 01 
Graduate studies. 

Abbott, Gen. H. L., lecturer on hydraulic engineering $100. 00 

Bartsch, P., professor of zoology 40.00 

Bassler, R . S 40. 00 

Clarke, Frank W., lecturer in mineral chemistry 200. 00 

Cohen, Louis, assistant professor of mathematics 120. 00 

Hough, W. S., professor of philosophy 220.00 

Howard, B.J ". 80. 00 

Kibler, A. Lewin .500. 00 

Kinyoun, J. J., professor of bacteriology 240.00 

Merrill, G. P., professor of geology and "mineralogy 290. 00 

Munroe, C. E., professor of cherriistry and dean of graduate studies 3, 300. 00 

Price, Thomas M., assistant professor of liiochemistry .'300. 00 

Shepherd, W'illiam T., assistant in experimental psychology 500. 00 

Santon, T. W., assistant professor of bacteriology .50.00 

Sternberg, Gen. George M., lecturer in preventive medicine 100. 00 

Sternberg, G. M. , professor of preventive medicine 60. 00 

Wiley, H. W., professor of agricultural chemistry 60.00 

6, 200. 00 
Engineering. 

Betts, I^hilander, assistant professor electrical engineering $1, 400. 00 

Dimstan, E. V., assistant professor of civil engineering 1, 300. 00 

llodgkins, H. L., dean of engineering and professor of physics 3,000.00 

Matthews, M. Alice, assistant librarian ." 900. 00 

Mechlin, O. A., assistant professor of civil engineering 1, 200. 00 

Mortimer, C. W^, instructor in electrical engineering 1,100.00 

Starr, F. C, instructor in civil engineering 1, 100. 00 

Varney, E. W., instructor in physics 200. 00 

Willard, A. C, assistant professor mechanical engineering 1, 200. 00 

11,400.00 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 151 

College of the political sciences. 

Adams, Henry C, lecturer $1, 000. 00 

Amores, E. M., instructor in Spanish 150.00 

Austin, O . P., professor of commerce and statistics 31.5. 00 

Baker, John E., instructor in interstate commerce accounting 660. 00 

Barrett, John, lecturer on Latin- American diplomacy 25. 00 

Black, Burnetta, clerk, Mr. Stowell's office 461.33 

Brewer, David J., lecturer on international arbitration 1, 000. 00 

Carr, W. J., lecturer on consular service 123. 33 

Charlton, Paul, lecturer on colonial administration 250. 00 

Clark, Rufus, janitor 73. 21 

Foster, J. W., lecturer on practice of diplomacy 200. 00 

Howard, James, janitor 186. 29 

Hunt, Gaillard, lecturer. .■ 250. 00 

Hunter, C. E., Clerk to Mr. Stowell 18.67 

Kibler, Thomas L., fellowship 500. 00 

Knapp, Martin A ., lecturer 500. 00 

Latimer, J. W., instructor commercial law 500. 00 

McBain, H. !>., instructor in political science ' 1,500.00 

Maillet, Jules, instructor in French 150. 00 

Manning, W. R., assistant professor diplomatic history 1,600.00 

Osborne, John Ball, lecturer on consular service 510. 00 

Osborne, John Ball, lecturer on trade relations 500. 00 

Scott, J. B., professor of international law 3,500.00 

Snow, A . H ., lecturer on colonial government 250. 00 

Stevens, William S ., fellowship 400. 00 

Stowell, E. C, secretary college of the political sciences and instructor in international law 1,050.02 

Swisher, C. C, professor of history and politics 300. 00 

Veditz, C. W. A., professor of economics 1,700.00 

Willis, H. P., professor of finance 1, 700. 00 

Willoughby, W.' W., professor of political science 1, 000. 00 

Extra help 2. 00 



20,374.85 
Division of education. 

Albee, H. R., assistant in applied design .58. 80 

Brown, E. E., lecturer 100. 00 

Gillis, Miss Helen, assistant in Ed . library 12. 00 

Hough, W. S., professor of philosophy in charge division of education 2,300.00 

Johnston, Mildred F., library assistant 108. 00 

Kramer, S. E., lecturer 100. 00 

Lane, Marian (Miss), assistant in applied design 93. 60 

Michie, H. S., director and instructor in applied design 932.80 

Mueden, Mathilde, assistant in drawing from life 16. 00 

Myers, G. E., lecturer 450. 00 

Ruediger, W . C . , assistant professor education and psychology 1 , 800. 00 

Small, AV. S., lecturer 300. 00 

Thompson, F. L. (Miss), assistant in applied design 406.80 

UpdegrafE, H., lecturer 200. 00 



6, 828. 00 
Architecture. 

Ash, Percy, professor of architecture S2, 000. 00 

Bibb, A . B., professor of architecture 1, 100. 00 

Remey, C. M., instructor in shades, shadows, designs, etc 700. 00 

3,800.00 
Law. 

Blair, H. P., professor of law $1, 000. 00 

Brandenburg, E. C, professor of law 800. 00 

Buhrman, A. G., clerk of the moot court 150. 00 

Catlin, H. W., assistant in library 75. 00 

Clephane, W. C, professor of law 1, 200. 00 

Curl, J. R., clerk. Dean Vance's office 464.50 

Earnest, J. P., professor of law 1, 200. 00 

Harlan, John M., professor of law 3, 000. 00 

Jenkins, W. M., assistant librarian 202. 50 

Lorenzen, E.G., professor of law 3,000.00 

Monnet, J. C, assistant professor of law 2, 200. 00 

Needham, C. W., professor of law 1, 200. 00 

Peelle, Stanton J., professor of law 1,000.00 

Peter, Arthur, professor of law 1, 200. 00 

Stafford, W. P., professor of law 1, 500. 00 

Thurston, E. S., professor of law 3, 000. 00 

Tilton, R. H., assistant librarian 302. 00 

Vance, W. R., dean and professor of law 4,750.00 

Van Orsdel, J. A., professor of law 400. 00 

26,644.00 
Patent law. 

Church, Melville, professor of the law of patents S600. 00 

Medical. > 

Acker, G. N., professor pediatrics and clinical medicine $60. 00 

Amos, H. D., assistant in chemistry 37.50 

Borden, William Cline, dean medical department, professor of surgery 208. 32 

Bovee, J. Wesley, professor of gynecology 100. 00 



152 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

Brandenburg, W. R. demonstrator $100. 00 

Brock, Charles LeRoy, student assistant in pathological laboratorj^ 150. 00 

Butler, W. K., professor of opthalmology 50. 00 

Cabell, J. M., assistant professor of obstetrics 50. 00 

Clark, A. P 55. 00 

Claytor, T. A., professor materia medica and therapeutics 500..00 

Cook, G. W., professor of clinical medicine IQO. 00 

Copeland, E. P., assistant clinical prof essor of pediatrics 50.00 

Donnallv, H. H., assistant professor bacteriology and pathology 100. 00 

Elliott, H. R., instructor in physiology 100.00 

Franz, S. I., professor of physiology 1, 000. 00 

Fremont-Smith, F., clinical instractor in medicine 50. 00 

Hankins, Harry G., student assistant anatomy and physical laboratory 75. 00 

Jannier, Frank, janitor in laboratory 355. 00 

Jones, Glenn I., instructor in histology 50. 00 

King, A. F. A., professor of obstetrics 500. 00 

Kinvoun, J. J., professor of bacteriology and pathology J 1,800.00 

Lindsey, J. H., assistant professor clinical medicine and curator of pathological museum 1, 500. 00 

McLaughlin, W. F., librarian : 110. 00 

Macatee, H. C, instructor in medicine 25. 00 

Medford, H. S., instructor in obstetrics 50.00 

Miller, G. B., instructor in gj^necology 50. 00 

Morse, E. E., assistant professor of obstetrics 50. 00 

Munroe, C. E., professor of chemistry 300. 00 

Peyton, Harrj' A., assistant in chemical laboratory 37. 50 

Phelps, Isaac, instructor in physiology 1, 000. 00 

Phillips, W. F. R., dean, professor of hygiene and practical anatomy 3, 000. 00 

Prentiss, D . Webster, professor of histology 225. 00 

Reichelderfer, L. H., assistant clinical professor of surgery 50. 00 

Richardson, C. W., professor of laryngology and otology 100.00 

Ruftin, Sterling, professor of theory and practice 500. 00 

Seibcrt, E.G., assistant professor of chemistry 300. 00 

SeUner, Miss A. E., clerk to Dr. Phillips -!20.00 

Shands, A. R., professor of orthopedic surgery 50.00 

Shute, D. Kerfoot, professor of anatomy 500. 00 

Smith. Arthur, Ubririan 150. 00 

Sowers, W. F. M., assistant professor of surgery 40.00 

Taylor, L. H. , assistant professor of surgery 300. 00 

Thompson, J. L. , instructor in surgery - 50. 00 

Wellington, John R., assistant professor of surgery 100. 00 

White, W. A. , professor of mental diseases 50. 00 

AVoodward, W. C. , professor of medical jurisprudence 50. 00 

Yarrow, H. C, professor of dermatology 50. 00 

Extra help 5.00 

14,543.32 

Dental deparlmenl. 

Bassett, C. T., demonstrator in charge of infirmary 85S5. 00 

De Farges, J. R., professor of oral surgery 50.00 

Hagan, J. R., assistant professor of materia medica and therapeutics 150.00 

Lewis, J. Kail, professor of dental prosthetics 524.93 

Odor, Cadmus Linden, professor of operative technics 100. 00 

Prentiss, P. Webster, professor of histology 75. 00 

Thompson, H. C, professor of operative dentistry 074. 96 

Walton, J. R. , professor of prosthetic technics 100. 00 

Various, elevator boys 119. 45 

2,379.34 
Eospital. 

Payroll ,---■ $9,593.38 

Elliott, Louis, pharmacist 152. 00 

Reichelderfer, I>. H., medical director 900.00 

Yingling, C. K., superintendent of hospital 1, 000. 00 

11,015.38 
General expenses. 

Gollamorc, Effie, clerk to dean, engineering $332.50 

Compton, L. C, clerk, treasurer's office 000.00 

Da\-is, Harry C, secretary (\0\ months) 2,625.00 

De Gaindry ," W. A., auditor 250. 00 

Hame, E.'W., stenographer and clerk, registrar's office 000.00 

Holmes, C. W. , treasurer 2, 100. 00 

NeeJham, C. W., president of the university 6,000.00 

Petty, J. A., cashier, treasurer's office 1,080.00 

Schatz, Elmer, engineer 840. 00 

Sewell, G. \., stenographer to president 720. 00 

Swagart, Harry, messenger 210. 00 

Swclt, O. D.. registrar (\0\ months) ,09. 99 

Uinhau , C. K. , stenographer to treasurer '""OO. 00 

AVatkins, M. H., stenographer to Prof. Wilbur 600.00 

Webster, J. W., telephone operator 301. 00 

16,958.49 



FIJSTANCIAIj condition of GEORGE WASHINGTON UNIVEESITT. 153 

University hall. 

Bridgeforth, John, day fireman and porter $286. 32 

Evernian, J. W., janitor 4g0, 00 

Harris, Percy, substitute fireman gi 00 

Harris, R. T., laboratory janitor 400. 00 

Simmons, G. H., night fireman 333. §7 

1,508.99 
Law hall. 

Burgess, Robert, law janitor $26. 12 

Colbert, Edw., janitor 315] 00 

3^1. 12 
Medical hall. 

Bams, F., fireman §25. 64 

Forsythe, William, night fireman 237. 00 

Hopkins, Jacob, day fireman g] 00 

Johnson, William, day fireman 259! 35 

March, W. A., janitor "93I 33 

Paris, Connie, janitor 282. 00 

Payne, Joe, janitor 380. 00 

1,283.32 
University annex. 

Brown, O . H., night janitor $64. 63 

Colbert, Henry, janitor 286. 00 

Hairston, Robert, janitor 420. 00 

Talford, Wm., night man I8I. 45 

Extra help : 3. 00 

955. 08 
Dornfiitory. 

Davis, Margaret, cook 5136. 28 

Fenton, Josephine, maid 142. 00 

Pureell, Julia, maid 174. OO 

Walsh, Josephine M., housekeeper ■. 304. 50 

Various, temporary servants 82. 45 

839. 23 
Building site enlargement. 

Harlan, R. D., special representative $3, 151. 46 

Salaeies Paid 1909-10. 
Arts and sciences. 

Bassler, R. S., instructor in geology $300. 00 

Carroll, Mitchell, professor of classical languages 1 , 400. 00 

Croissant, D. C, assistant professor of English 1,200.00 

Ellis, Harriet S., dean of women 600. 00 

Henning, G. N., professor of romance languages 2, 199. 96 

Hill, E . A., assistant professor of chemistr j^ 400. 00 

Hodgkins, H. L.,i professor of physics 600. 00 

Ingersoll, E. H., student assistant in chemistry 75.00 

Macmillan, Julia, tuition, $50; salary, $150 200. 00 

Merrill, G. P., professor of geology and mineralogy 400. 00 

Peake, J. P., assistant professor of history 1, 200. 00 

Pec'r, P. N., assistant professor of mathematics 1,200.00 

Price, Thomas M., assistant professor of chemistry 300. 00 

Schmidt, A. F. W.,° assistant professor of German 1,000.00 

Schoenfeld, H., professor of German 2, 200. 00 

Smith, C. S., assistant professor of Greek and Latin 1, 100. 00 

SnifEen, W. W., assistant professor of romance languages 300. 00 

Swett, O. D., assistant professor of chemistry 1, 500. 00 

Swisher, C. C.,3 professor of history 2, 000. 00 

Tucker, Prescott S., student assistant in chemistry 215. 00 

Wilbur, W. A., dean 500. 00 

Wilbur, W. A., professor of English 2, 500. 00 

21,389.96 
Graduate studies. 

Bartsch, Paul, professor of zoology $60. 00 

Clarke, F. W., professor of mineral chemistry 20. 00 

Merrill, G. P., professor of geology and mineralogy 40. 00 

Munroe, C. E.,< dean 500. 00 

Munroe, C. E.,« professor of chemistry ■. 2, 800. 00 

Price, Thomas M., assistant professor of chemistry 300. 00 

Stanton, T. W., assistant professor of paleontology 60.00 

Van Estrone, C. E., second semester 60. 00 

Wiley, H. W., professor of agricultural chemistry 20. 00 

Lewis, Howard B., fellowship 250. 00 

4,110.00 

1 Also in engineering. 3 Also in political sciences. 

2 Also paid $800 as librarian under "Library" disbursements. < Also in medical department. 



154 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

College of engineering. 

Betts, Philander, assistant professor of electrical engineering $1, 400. 00 

Dunstan, E. V., assistant professor of civil engineering 1,400.00 

Godfrey, Ethel M., clerk 220. 16 

Hodgkms, H. L.,i dean 499. 99 

Hodgkins, H. L.,i professor of mathematics 2, 200. 01 

Mechlen, O. A., assistant professor of civil engineering 1, 200. 00 

Morse, R. W 121. 88 

Mortimer, C. W., instructor in electrical engineering 1,200.00 

Starr, F. C., instructor in civil engineering 1,200.00 

Varney , E . W. , Instructor in physics 200. 00 

Willard, Charles F., instructor in mechanical engineering 178. 12 

9,820.16 
Division of education {teachers' college). 

Hough, W. S., 2 dean $100.00 

Hough, W. S.,2 professor of philosophy 2, 220. 00 

Kramer, S. E., lecturer 100.00 

Myers, G.E., lecturer 300.00 

Ruediger, W. C, assistant professor of educational psychology 1,800.00 

Small, W. S., lecturer 300. 00 

4,820.00 
Architecture. 

Ash, Percy, dean and professor of architecture S666. 64 

Bibb, A. B., acting dean and professor of architecture 1, 700. OO 

Harris, Albert L., student assistant 22.00 

Murphy, Frederick V., instructor in architecture 250. 00 

Smith,"De!os H., instructor in architecture 140. 00 

2,778.64 
College of the political sciences. 

Black, Barnetta, clerk $400.00 

Charlton, Paul, lecturer 250. 00 

Harlan, John M.,3 550.00 

Kern, R. R., Instructor in economics 1, 100. 00 

Latimer, J. W., instructor in commercial law 458.26 

McBain, H . L. , dean 300. 00 

McBain, H. L., assistant professor 1, 500. 00 

Manning, AV. R., assistant professor of history 1, 600. 00 

Osborne, J. B ., lecturer 500. 00 

Scott, J. B., professor of international law 1,833.26 

Simmons, Z., janitor 216. 94 

Snow, A. H.,4 lecturer (resigned Feb. 1, 1910) 25a 00 

Stowell, E. C, instructor in consular science 1,008.26 

Swisher, C. C.,' professor of history 300. 00 

Wilhs, H. P., professor of finance 1, 200. 00 

Burgess, Robert, janitor 21. 39 

11,488.11 
Medical department. 

Acker, C. M., professor of pediatrics and clinical medicine : $50.00 

Borden, W. G., dean 100. 01 

Borden, AV. C., professor of surgery 900. 00 

Bovee, J. AV., professor of gynecology 100.00 

Brandenburg, AV. R., demonstrator 100.00 

Butler, AV. K., professor of opthalmology 50.00 

Cabell, J. M., assistant professor of obstetrics SO. 00 

Claytor, T. A., professor of materia medica and therapeutics 100.00 

Copeland, E. P., assistant clinical professor of pediatrics 60.00 

Dounally, H. H., assistant professor of bacteriology and pathology 50. 00 

Eisenberg, A. A., student assistant in histology 75.00 

Elliott, H. R., instructor in physiology 50.00 

Elliott, L. L., student assistant (tuition) 152. 00 

Franz, S. I., professor of physiology 1,000.00 

Fremont-Smith, F., clinical instructor in medicine 50. 00 

Irmen, Felix A., student assistant in bacteriological laboratory 75. 00 

Jannier, Frank, janitor in bacteriological laboratory 300. OO 

King, A. F. A., professor of obstetrics 100. 00 

Kinyoun, J. J., professor (23 days) 115.00 

Lawson, H. AA^, professor of histology and embryology 300. 00 

Medford, H. S., instructor in obstetrics 50.00 

Miller, G. B., instructor in gynecology 50.00 

Morse, E . E ., assistant professor of obstetrics 50. 00 

Phelps, I. K., assistant professor of chemistry (6 months) 600. 00 

Prentiss, D. AV., professor of histology 50. 00 

Reichelderfer, L. H., assistant clmical professor of surgery 50. 00 

Richardson, C. AA'., professor of laryngology and otology 50. 00 

Ruffin, Sterling, professor of theory and practice 100.00 

Russel, F. F., professor of bacteriology and pathology 1, 200. 00 

Seibert, E. G., assistant in chemistry and opthalmology 100.00 

' Also in arts and sciences. ^ Also in law. 

2 Also in general expanses (acting secretary). < Resigned February 1, 1910. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 155 

Sellner, A. E .,i clerk S430. 00 

Shands, A. R., professor of orthopedic surgery 50.00 

Shute, D. K., professor of anatomy 100. 00 

Sowers, W. F. M., assistant professor of surgery 60.00 

Thompson, J. L., instructor in surgery 60. 00 

Wellington, J. R., clinical professor of surgery 100. 00 

White, W. A., professor of mental diseases 50.00 

Wilkinson, W. W., assistant in chemistry (3^ months) 175. 00 

Woodward, W. C, professor of medical jurisprudence 60. 00 

Yarrow, H. C, professor of dermatology 50. 00 

7,172.01 

Dental department. 

Barnes, Nobel, professor of materia medica $75. 

Bassett, C. T., in charge of infirmary 500. 00 

Calver, George W., student assistant in chemical labaratory, dental and veterinary 76.00 

De Farges, J. R., assistant professor of metallurgy : 50. 00 

Franz, S. I., professor of physiology 200.00 

Hopkins, H. C, instructor In operative technics 50. 00 

Lawrence, W. F., assistant professor of prosthetic technics 76. 00 

Lawson, H. W., professor of histology and embryology 100.00 

Luckett, George S., student assistant chemical laboratory, dental and veterinary 76. 00 

Odor, C. L., assistant professor operative technics 76. 00 

Owen, W. O., professor of anatomy 100.00 

Seibert, E. G., 2 professor of chemistry 100.00 

Selhier, A. E. , 2 clerk to dean 100. 00 

Shoemaker, C. P. , assistant orthodontia technics 50. 00 

Taylor, J. W. , instructor in prosthetic technics 60. 00 

Thompson, H. C, professor of operative dentistry 400.00 

Walton, J. R. , dean . . ; 200. 00 

Walton, J. R., professor of prosthetic dentistry and orthodontia 400. 00 

White, C. S., professor of oral surgery 75.00 

Wolfe, A. S. , assistant professor of crown, bridge, and porcelain work 75. 00 

Young, H. C, instructor in prosthetic technics 50.00 

2, 875. 00 
Hospital. 

Reiehelderfer, L. H. , medical director $900. 00 

Yingling, C. K. , superintendent 1, 000. 00 

Pay roll (nurses, servants, etc.) 8, 876. 88 

10, 776. 8S 
Law department. 

Brandenburg, E. C, professor of law S366. 63 

Buhrman, A. C, professor of law 150. 00 

Church, M. , professor of patent law 550. 00 

Clephane, W. C. , professor of law 870. 76 

Carl, J. R., professor of la^v 469. 67 

Earnest, J. P. , professor of la v 870. 76 

Harlan, John M.,3 professor of law 1, 650. 00 

Lorenzen, E.G., professor of law 3, 000. 00 

Mumma, H. A. , professor of law 2, 000. OO 

Peele, S. J., professor of la'" 458. 26 

Peter, Arthur, professor of law 870. 76 

Schoenfeld, H. F. A., professor of law 145. 00 

Stafford, W. P., professor of law 1, 375. 00 

Thurston, E. S. , professor of law 3, 500. 00 

Vance, W. R., professor of law 4, 750. 00 

Van Orsdel, J. A., professor of law 366.63 

21, 393. 47 
General expenses. 

Compton , L. C. , cashier and clerk, treasurer's office $720. 00 

Davis, Mrs. B. S., clerk to Dean Hodgkins 56.39 

Davis, H. C, ^ secretary 1, 900. 00 

De Caindry, W. A., auditor 250. 00 

Hance, E. W., stenographer to secretary 720.00 

Holmes, C. W., treasurer 2, 100. 00 

McLean, E.G., substitute 2. 00 

Needham, C. W., president 6,000. OO 

Pettv, J. A. , clerk 180. 00 

Schatz, E., engineer 960. 00 

S wagart, H. , messenger 110. 00 

Sewell, Grace A. , stenographer to president 420. 00 

Umhau, C. K. , stenographer and clerk, treasurer's office 720. 00 

Watkins, M. H., stenographer to Dean Wilbur 600. 00 

Webster, J. W. , telephone operator 300. 00 

Hough, W. S., * acting secretary, June 20 to Aug. 31 466. 66 

1 Also in dentistry. 

2 Also in medicine. 

3 Also in political sciences. 

* Davis resigned June 15, 1910. Prof. W. S. Hough appointed acting secretary for period from Jime 20, 
1910, to Aug. 31, 1910, at a salary of $200 per month in addition to his other salaries of $100 per annum as 
dean of teachers' college and $2",200 per annum as professor of philosophy. 



156 FliSTANCIAL CONDITION" OF GEORGE WASHINGTON UNIVEESITY. 

J. R. Tieford, stenographer to president May 7 to July 19 $120. S9 

(salary 833. 32 

Harlan, R. D., i special representative-jcom 250. 00 

laccoimt expenses 145. 83 

16,855.09 
University Mil. 

Bridgeforth, J. W $289.28 

Everman, J. W 480.00 

Harris, R. T 400. 00 

Simmons, George 333. 66 

Turner, Allan 16. 66 

Brooks, George W 47. 58 

Bronough, George 35. 07 

Simmons, Z 16. 00 

1,618.25 
Law hall. 

Burgess, Robert $260.32 

Howard, James 34. 65 

294.97 
Medical hall. 

Beaner, Thomas 856. 71 

Johnson, AVilliam : 300. 00 

Mcwmiams, L 119.03 

Marsh, WUliam 515.00 

Meets, Joseph 89.00 

Farrell, John 153.00 

Lane, Lemuel 120.00 

1,352.74 
University annex. 

Beaner, Thomas Si03.83 

Colbert, Henry 292.60 

Lewis, C.E 660.67 

Bramhall, Charles 101 . 61 

Hairston, Robert 140. 00 

Talford, William 169. 86 

868.57 
Dormitory. 

Fitzpatrick, Mary S138. 32 

Fry, Annie 179.33 

Hohlbein, Betty 99. 60 

AValsh, J . M 450. 00 

Kohr, Jennie 26. 40 

Means, Elizabeth 19. 80 

Fearon, Mary 4. 06 

917.51 

Charged under heading "Library" in various departments. 

Education (teachers' college), Helen Gillis $75. 00 

Political science, N. L. Bowen 95.00 

Law: 

F. F. Ford S90. 00 

RufusTUton 310.00 

Charles L. Yancey 183. 75 

— — 583. 75 

Medicine: 

J. J. Sloat 75.00 

A. C . Smith 75. 00 

150.00 

Arts and sciences: 

D. L. Dalton 90. 00 

Eleanor Jones 52. 50 

M. AUce Matthews 900. 00 

A. F. W. Schmidt "■ 800. 00 

Helen Summy 10. 00 



Building, site, and enlargement fund. 



1,852.50 
2,756.25 



Harlan, Richard D.,' special representative: 

Salary to Mar. 1, 1910 51 . 249. 88 

Commissions 130. 00 

1,379.88 

1 Paid out of building site and enlargement fund up to Mar. 1, 1910. 

2 Also assistant professor of German arts and sciences. 
' After Mar. 1, 1910, paid out of general expenses. 



FINANCIAL CONDITIOIT OF GEORGE WASHINGTON UNIVERSITY. 157 

EXHIBIT B. 

Salaries Unpaid August 31, 1910. 

Graduate studies. 

Cohen, |Louis, professor (1 student for term) $40. 00> 

College of political sciences. 

Harlan, John M., professor (1 month) |50. 00" 

Latimer, J. W., instructor in constitutional law (1 month) 41. 74 

Scott, J. B., professor of international law (1 month) 166. 74 

Stowell, E.G., instructor on Consular Service (1 month) 91. 74 

Kern, R. R., professor (1 month) 100. 00^ 

Deparimen^of law. 

Brandenburg, E. C, professor (1 month) $33. 37' 

Church, M., professor (1 month) 50. 00' 

Clephane, W. C, professor (1 month). 79.24 

Earnest, J. P., professor (1 month) 79. 24 

Harlan, John M., professor (1 month) 150.00' 

Peelle, S. J., professor (1 month) 41. 74 

Peter, Arthur, professor (1 month) 79. 24 

Stafford, W. P., professor (1 month) 125. OC 

Van Orsdel, J. A., professor (1 month) 33. 37 

General expense. 

DeCaindry, W. A., auditor (1 year) 1250.00^ 

1, 411. 42.' 



EXHIBIT C. 

Salaries for year 1910-11. 

Graduate studies. 

Charles E. Munroe,^ dean $500, 00* 

Charles E. Munroe,^ professor 900. 00 

Thomas M. Price, ^ assistant professor 300. 00 

1, 700. 00= 

Other professors in this department are paid at the rate of $40 per annum for each 
student assigned to such professor. It is estimated that the total of such payments 
will amount to about $400. 

Arts and sciences. 

Wm. A.Wilbur, dean $500. Oa 

Wm. A . Wilbur, professor 2, 200. 00 

R. S. Bassler, assistant professor 300. 00 

C. S. Smith, professor 1, 200. 00 

G. N. Henning, professor 2, 000. 00 

H. L. Hodgkias,3 professor 600. Oa 

G. P. Merrill, professor 400. 00 

Thomas M. Price, ■* assistant professor 300. 00- 

A. F. W. Schmidt,^ assistant professor 600. 00 

H. Schoenfeld, professor 2,000.00 

O. D. Swett, assistant professor 1, 400. 00 

C. C. Swisher, professor 2,000.00' 

1 Also in arts and sciences and engineering. * Also in graduate studies. 

2 Also in arts and sciences. * Also in library, 
s Also in engineering. 



158 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

Charles E. Munroe,' professor $1, 000. 00 

H. G. Hodgkins, instructor 450. 00 

E. H. Ingersoll,' assistant, chemical laboratory (tuition) 100. 00 

P. J. Donk,^ assistant, chemical laboratory (one-half tuition) 105. 00 

Julia T. Macmillan, instructor 300. 00 



15,455.00 
Engineei'ing . 

Per annum. 

H. L. Hodgkins,^ dean $500. 00 

H. L. Hodgkins,3 professor 2, 000. 00 

O. A. Mechlin, assistant professor 1, 000. 00 

F. C. Starr, assistant professor 1, 000. 00 

E. V. Dunstan, assistant professor 1, 000. 00 

C. W. Martin, assistant professor 1, 000. 00 

R. W. Morse, instructor 400. 00 

M. R. Woodward, instructor 400. 00 

Chas. E. Munroe,* professor 1, 000. 00 

H. H. Gordon, instructor (and tuition Ph. D.) 200. 00 



8,500 

Teachers college. 

W. S. Hugh, dean $200. 00 

W. S. Hough, professor 2, 000. 00 

W. C. Ruediger, assistant professor 1, 000. 00 

W. S. Small, lecturer 200. 00 



3, 400. 00 
Political sciences. 

H. P. Willis, dean $600. 00 

H. P. Willis, professor 1, 200. 00 

F. B . Moore, assistant professor 1, 400. 00 

R. R. Kern, instructor 1, 200. 00 

L. C. McNemar, instructor 1, 000. 00 

J. B. Oshorne, lecturer 500.00 

J. W. Latimer,^ instructor 400. 00 

P. Charlton, lecturer, during second term 250. 00 

Burnetta Black, stenographer 360. 00 

Samuel Lane, janitor 225. 00 

Mandel Marcus, librarian 120. 00 



7, 255. 00 
[Law department. 

E. G. Lorenzen, dean $3, 500. 00 

Melville Church, professor 600. 00 

W. C. Clephane, professor 1, 200. 00 

E. C. Brandenburg, professor 600. 00 

Arthur Peter, professor 1, 200. 00 

S. J. Peelle, professor 500. 00 

J, P. Earnest, professor 1, 200. 00 

W. P. Stafford, professor 1, 500. 00 

J. A. Van Orsdel, professor 400. 00 

H. A. Mumma, assistant professor 2, 000. 00 

J. W. Latimer,^ assistant professor 400. 00 

Everett Fraser, assistant professor 1. 800. 00 

Alfred Buhrman, clerk court 150. 00 

J. R. Curl, secretary law department 1, 000. 00 

R. H. Tilton, librarian (tuition, $105; salary, $166.67) 271. 67 

W. V. Spessard, librarian (tuition, $140; salary, $166.67) 306. 67 

" Also in graduate studies and engineering. 

2 Amount of $100 to E. H. IngersoU and $105 to P. J. Donk is for tuition allowed for their services as 
student assistants in chemical laboratory. 
' Also in arts and sciences. 
* Also in arts and sciences and graduate studies. 
sjAlso in law. 
'Also in college of political sciences. 



FINAISrCIAL CONDITION OP GEORGE WASHINGTON UNIVERSITY. 159 

E. Waidelich, stenographer $231. 00 

Henry Colbert, janitor, 9 months, at $30 270. 00 



17, 129. 34 
Medical department. 

Annual salary. 

W. C. Borden, dean $900. 00 

F. F. Russell, professor 1, 200. 00 

S. I. Frantz, professor 1, 000. 00 

H. W. Lawson, professor 300. 00 

W. O. Owen,i professor 400. 00 

H. R. Elliott, instructor 100. 00 

W. W. Wilkinson, instructor 100. 00 

Arthur C. Smith, librarian (one-half tuition) 75. 00 

J. B. Henneberger, assistant librarian (one-half tuition) 75. 00 

Henry I. Stout, assistant in histology (one-half tuition) 75. 00 

A. E. Sellner.i clerk 420. 00 

W. A. March, janitor, at $45 (from September 1, 1910) 540. 00 

Marion Grim, janitor, at $30 (from September 14, 1910) 316. 00 

William Johnson, fireman, at $30 (from September 19, 1910) 252. 00 

E. Schatz,2 engineer 240. 00 

Daniel Graham, fireman, at $30 (from October 22, 1910) 218. 00 



6, 211. 00 
Dentistry. 

Per anniom. 

J. R. Walton, dean $200. 00 

J. R. Walton, professor 400. 00 

H. C. Thompson, professor 400. 00 

Noble Barnes 75. 00 

C. T. Bassett, assistant professor 360. 00 

J. R. De Farges 50. 00 

H. C. Hopkins 50. 00 

W. F. Lawrence 75. 00 

C. L. Odor 75. 00 

W. O. Owen =* 100. 00 

E. G. Seibert 100. 00 

C. G. Shoemaker 50. 00 

J. W. Taylor 50. 00 

0. S. White 75.00 

A. S. Wolfe 75. 00 

H. C. Young 50. 00 

Julian Gartrell 50. 00 

W. B. Hoofnagle 50. 00 

A. E. Sellner, clerk 120. 00 

2, 405. 00 
Hospital. 

C. K. Yingling, superintendent (service ends November 30, 1910) $1, 000. 00 

L. H. Reichelderfer, medical director, $75 per month. Service ends September 30, 

1910. 

Medical director abolished September 30, 1910. C. B. Copping appointed superin- 
tendent at $50 per month from December 1, 1910. The amount to be paid for nurses, 
attendants, servants, etc., can not be stated, but some idea of the amount to be paid 
may be gathered from the amounts paid so far this year on this account. The pay- 
ment for such accounts for the month of September was $750.79 and for the month of 
October $808.68. 

General expenses. 

Per annum. 

. Charles W. Holmes, treasurer $2,400.00 

Richard Cobb, secretary 1, 800. 00 

C. K. Umhau, cashier 900. 00 

L. G. Simpson, clerk to treasurer 720. 00 

E. W. Hance, clerk to secretary 720. 00 

1 Also in dental. 2 Also in general expenses. ' Also in medicine. 



160 FIXANCI-4lL condition of GEOEGE WASHINGTON UNIVEIISITY. 

John G. Lerch, clerk to president $720. 00 

M. H. Watkins, clerk to Dean Wilbur 600.00 

Elizabeth Ferguson, clerk (tuition) 150. 00 

E. R. Jacobs, telephone switchboard operator 480. 00 

E. Schatz, engineer ' 960. 00 

9, 450. 00 

MAINTENANCE. 

J. W. Everman, head janitor $480.00 

L. Henson, second janitor, $30 for 9^ months 285. 00 

J. J. Farrell, night janitor, $35 for 9* months 332.50 

Z. Simmons, day fireman, $30 for 9i months 285.00 

R. T. Harris, chemical laboratory janitor, $40 for 10 months 400. 00 

Margaret Watkins, maid, $20 per month, 8^ months 170. 00 

1, 952. 50 

LIBRARIANS. 

A. F. W. Schmidt, librarian ^ $800.00 

Eleanor J. Jones, assistant librarian (tuition) 100. 00 

D. S. Dutton, assistant librarian (tuition) 75. 00 

E. B. Lowe, assistant librarian (tuition) 75. 00 

1, 050. 00 



EXHIBIT D. 

Resolved. By the faculty of medicine, that the board of trustees be requested to 
pass the following ordinances: 

"That the finances of the medical and dental departments shall be considered 
together and so accounted for on the books of the treasiu-er of the university. 

"That the executive committee of the medical faculty shall hereafter be known as 
the executive and finance committee of the medical faculty, of which the dean of 
the medical department shall be chairman and the president of the university a 
member ex officio. That as such it shall, subject to the board of trustees, administer 
the affairs of the medical college, the hospital, and the training school of nurses; shall 
submit estimates, authorize expenditures, and audit all accounts which pertain to the 
medical college, the hospital, and the training school for nurses. 

"That the advisory committee of the medical faculty, subject to the approval of the 
board of trustees, shall fix all salaries in the college, the hospital, and the training school 
for nurses. 

" That for the coming year (1910-11) the salaried members of the faculty of medicine 
shall receive monthly one-half their allowed salary, and at the end of the year any 
balance of funds remaining from receipts from the departnients of medicine and 
dentistry shall be applied; second, to the payment of salaries in full; third, to a 
special fund to be used for the future needs of the medical and dental departments 
and for no other purpose whatsoever. 

"That the faculty of medicine shall keep all records of the medical school, sending 
to the central office for university information, duplicate admission and record cards, 
and that all hospital accounts to be kept at the hospital, the treasurer of the univer- 
sity acting only as a receiving and disbursing agent." 

Provided these ordinances are approved by the board of trustees, the members of the 
clinical divisions unanimously agree to resign all honorariums for the year 1910-11, 
amounting to $1,650, for one year from September 1, 1910. 



EXHIBIT E. 

The faculty of law beg leave to submit to the board of trustees the following plan 
for the continuance of the work of the department of law upon the highest standards 
for the year 1910-11: 

1. The members of the present faculty, with the exception of the president and the 
present dean, will continue the work of instruction as now carried on, except so far 

■ Also in medical. 2 Also in arts and sciences. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 161 

as hereinafter modified, -with this understanding, that the revenues accruing from 
tuition fees shall be applied as follows: 

First. To the payment in monthly installments to the members of the faculty of 
law and the secretary, according to the annexed schedule, of the sum specified in 
said schedule, which sum shall not exceed one-half of the total amount paid by way 
of salary to the teaching staff of the department of law dming the year 1908-9. 

Second. To the payment to the board of trustees of the sum of $5,000 as the contri- 
bution of the department of law toward the interest charges borne by the university 
or, in case the law building is sold, for rental of quarters provided. These payments, 
if practicable, shall be made in the following installments: The sum of |2,000 on 
October 15, 1910; the sum of $1,000 on December 15, 1910; the sum of $1,000 on 
February 15, 1911; and the sum of $1,000 on April 15, 1911. 

Third. Any further sum remaining from the revenues received from tuition fees, 
not to exceed the sum of $31,664.50, which is the sum total of the law salaries paid 
for the year 1908-9 plus the $5,000 to be paid as herein next above provided, shall be 
paid to the members of the faculty of law and the secretary in accordance with the 
plan contained on the annexed schedule. 

Fourth. Any further sums remaining, if there be any, shall be held by the treas- 
urer of the university for the pm'pose of the department of law and not subject to be 
used for the benefit of any other department or activity of the university. 

2. The requirement for the degree of LL. B. shall be 3 years of 12 hours each. The 
degree of B. h. shall be abolished. The requirements for other degrees shall remain 
as at present. 

3. The schedule of courses of instruction shall be so arranged as to make it possible 
for afternoon students to take 12 hours of work each year and thus to qualify for the 
LL. B. degree in 3 years, but they shall be encouraged by administrative ofiicers to 
apply 4 years to the completion of the course, taking only 9 hours each year. Full 
day students will be allowed to take a maximum of 15 hours, and any excess credits 
that they may obtain during the 3 years preceding their graduation with the degree 
of LL. B. may be counted toward a master's degree, to be conferred only after the 
expiration of 1 year from the time of the receipt of the baccalaureate degree. 

4. For the purpose of preserving the present standing of the department of law, and 
the present character of its instruction; and also of retaining the valuable student 
body who now in the department of law devote all or most of their time to their legal 
studies, 6 hours of instruction shall be given for each of the 3 years in the forenoon. 
Full day students will be expected to complete the required" number of hours by 
courses taken in the afternoon. 

5. Additions to the faculty, which may be necessary to carry on the work of the 
department shall be appointed by the board of trustees upon the recommendation of 
the faculty. 

6. All administrative details and correspondence in connection with the department 
of law shall be intrusted to a secretary, to be known as the secretary of the department 
of law, who shall be appointed by the trustees upon the recommendation of the faculty, 
and who shall receive as a salary the sum mentioned in the annexed schedule. 

7. This agreement is to be void and of no effect in case the present floating debt of 
the university of $105,000 shall be funded and subscriptions to a maintenance fund 
for the university year 1910-11, amounting to the sum of at least $50,000, shall have 
been secured. 

8. If the present floating debt of the university of $105,000 shall not be substan- 
tially funded by September 1, 1910, and subscriptions to a maintenance fund sufficient 
to carry on the work of the university year 1910-11 shall not have been secured by 
said date, the department of law shall be incorporated and be placed upon a separate 
financial foundation under the general charter of the university, it being understood: 

First. That the name of the corporation shall be "The College of Law of the George 
Washington University . " 

Second. That the board of trustees of said college shall consist of nine members. 

Third. That the board of trustees of the George Washington University shall 
nominate to the first board of said college six members, to be divided into three classes 
of two each, the terms of each two expiring annually; and that the faculty of law 
shall nominate three members to the first board of said college, of whom one shall be 
the dean, who shall be assigned to the class holding office for 3 years, the two others 
to hold office, one for 2 years and one for 1 year. 

Fourth. That the successors of the first board of trustees of said college shall be 
nominated and elected as follows: Two each year shall be nominated by the trustees 
of the university. These shall be elected by the board of said college. One each 

68966— H. Doc. 1060, 61-3 11 



162 FINANCIAL, CONDITIOIsr OP GEOEGE WASHINGTOlsr UNIVEESITY. 

year shall be nominated by the faculty of the college of law and elected by the board 
of said college. The dean shall always be elected a member of the board. 

Fifth. That the branches to be taught in said college shall be law and jurisprudence. 

Sixth. That the charter of said college shall be surrendered and the corporation 
dissolved at any time by vote of a majority of the board of trustees of said college. 

Seventh. That all donations, debases, and bequests to said college, and all prop- 
erty acquired, or to be hereafter acquired, shall, upon its dissolution, become the 
property of the university, subject to the debts and liabilities of the college. 

9. Subject to the approval of the acting president elect, the catalogue of the depart- 
ment of law shall be forthwith prepared and issued, and the work of the department 
for next year advertised in such manner as may seem expedient. 

10. This arrangement shall not be enforced after the expiration of the academic 
year 1910-11. 

Schedule referred to in foregoing agreement. 



1908-09. 

Blair $1, 000 

Brandenburg 800 

Buhrman 150 

Clephane 1, 200 

Earnest 1, 200 

Harlan 3, 000 

Lorenzen 3, 000 

Monnet 2, 200 

Needham 1, 200 

Peelle 1, 000 

Peter 1, 200 

Stafford 1, 500 

Thurston 3, 000 

Vance 4,750 

Van Orsdel 400 

Church 600 



Total 26,200 

Curl tuition, at $35 per month. 
Catlin tuition, at $20 per month. 
Jenkins tuition, at $20 per month. 
Tilton tuition, at $20 per month. 
Spessard tuition, at $20 per month. 
Stenographer tuition, at $26 per omnth. 



1910-11. 

Brandenburg $600 

Buhrman 150 

Clephane 1, 250 

Earnest 1, 250 

Lorenzen 3, 500 

Peelle 500 

Peter 1,250 

Stafford 1,500 



Van Orsdel. 

Church.. 

Mumma. 

Latimer. 

Eraser... 



400 
600 

2,000 
400 

1,800 
Curl 1,000 



Total 16,200 



EXHIBIT F. 

This lease, made this 20th day of August, A. D. 1910, by and between the National 
Savings & Trust Co., a corporation organized under the laws va. force in the District 
of Columbia and doing business therein, and Woodbury Blair, of said district, trustees 
for George Peabody Eustis, parties hereto of the first part, and the George Washington 
University of the District of Columbia, a corporation organized under the laws in force 
in said district, party hereto of the second part, 

Witnesseth, That the said parties of the first part, for and in consideration of the 
rents and covenants hereinafter mentioned on the part of the party of the second part 
to be paid and performed, have demised and leased, and by these presents do demise 
and lease, unto the said party hereto of the second part, the premises numbered 1528, 
1530, 1532, 1534, 1536, and 1538 I Street NW., in the city of Washington, Dis- 
trict of Columbia, for the full term of one (1) year, beginning therefor on the first day 
of August, A. D. 1910, and to be fully complete and ended at the expiration of said 
term, at and for the sum of twenty-five hundred dollars ($2,500), payable in equal 
monthly installments, in advance, to, and at the office of, said National Savings & 
Trust Co., Washington, D. C; that is to say, the sum of two hundred and eight and 
33/100 dollars ($208.33) upon the execution of this lease as the first installment in 
advance, and a like sum on the first day of each ensuing month thereafter. 

And the said party of the second part hath agreed to take, and does hereby take 
and hold the said premises, for the term aforesaid, at the said rent, payable as afore- 



FIISrANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 163 

said, and agrees and covenants that it will pay the water rent and bills for gas and 
electric lighting as they become due and that it will not sublet the said premises 
or any part thereof, or assign this lease, or any part thereof, or carry on any business 
therein except the use thereof for educational and domitory pm'poses, without the 
written consent of the said lessors, parties hereto of the first part. 

And the said party hereto of the second part further covenants and agrees that if 
it shall fail to pay said rent in advance as aforesaid, although there shall have been 
no legal or formal demand for the same, or shall neglect to pay the water rent or gas 
or electric bills when they shall be payable, as hereinbefore mentioned, or shall 
sublet the said premises, or assign this lease, or carry on any business therein except 
as aforesaid, without the written consent aforesaid, then and in either of said events, 
this lease and all things herein contained shall cease and determine and shall operate 
as a notice to quit, the 30 days' notice to quit being hereby expressly waived. 
And the said parties of the first part, the survivor of them, its successors and assigns, 
shall and may proceed to recover possession of said premises under and by virtue of 
the provisions of the Code of Law of the District of Columbia regulating proceedings 
in cases between landlord and tenant. 

And the parties hereto of the first part covenant and agree to keep in repair the 
roofs and the structural parts of the buildings necessary for the safety of the occupants, 
unless such repairs are made necessary by reason of changes in construction made by 
the lessee, with the permission of the lessors as hereinafter provided. And it is 
agreed between the parties hereto that in case of fire rendering the premises unten- 
antable, this lease shall thereupon terminate, unless the said lessors shall within 
60 days restore the structural parts of said buildings, but said restoration shall be 
optional with them. 

And it is further agreed between the parties hereto that if the entire property 
demised by this lease, including the Arlington Hotel adjoining the same, be sold 
during the term of this lease, or any renewal or extension hereof, the same may be 
terminated by the lessors upon 90 days' notice in writing to the said lessee, which 
notice need not expire with the current month of tenancy, and upon the expiration 
of said notice, said lessors shall be entitled to the immediate possession of said premises 
and may proceed to recover the same under the provisions of said code of law. 

And the said party hereto of the second part further covenants and agrees to keep 
the said premises in good condition and repair, and agrees, at its own expense, to 
make all repairs to said buildings, other than those to the structural parts as afore- 
said, and the roofs thereof. 

It is further covenanted and agreed that no improvements, alterations, or repairs 
shall be made by the party hereto of the second part without the consent of the 
parties hereto of the first part having thereunto been first given. 

And it is hereby further covenanted and agreed that the party hereto of the second 
part shall, at the expiration of its tenancy, when requested so to do by the parties 
hereto of the first part, replace and brick up, at its own expense, the openings in the 
party walls from house to house which it may have made in pursuance of authority 
granted unto it in a certain lease between the parties hereto, dated July 1, 1907, which 
said lease expired on July 31, 1910. And the said party of the second part further 
agrees to make all repairs, such as papering and painting, and other repairs, incident 
to the replacing of said openings. 

And it is further covenanted and agreed by and between the parties hereto that the 
said party hereto of the second part does hereby waive, surrender, and release all of 
its claim to reimbursement by said lessors of any part or proportion of the money 
expended by said lessee in repairs, improvements, and installation during its 
tenancy. 

It is further covenanted and agreed that if the said party hereto of the secona part 
shall retain possession of the premises hereby demised, and shall faithfully observe 
and perform all of the stipulations and covenants herein during the term hereby 
demised, it shall have the privilege at the expiration of said term of one (1) year to an 
additional term of three (3) years, extending to the thirty -first day of July, 1914; 
subject in every respect to the same terms and conditions as expressed in this lease, 
and particularly subject to the right of the parties lessor to terminate said additional 
term in event of sale, upon ninety days' notice as aforesaid. Said party hereto of 
the second part to give one month's written notice in advance to the said parties 
hereto of the first part if it desire to avail itself of this option. 

And it is further covenanted and agreed that the said lessee shall, at the expiration 
of this lease, deliver the premises in the same order in which they were received, 
subject to the provisions aforesaid, usual wear and tear, fire, and storm excepted. 
And it is also hereby agreed that no waiver of one breach of any covenant herein shall 
be construed to waive or in any manner affect the covenants of this lease. 



164 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVEESITY. 

In testimony whereof, on the day and year first hereinbefore written said Woodbury 
Blair, trustee for George Peabody Eustis, has hereunto signed his name and affixed 
his seal, and the said National Savings & Trust Co., trustee for George Peabody 
Eustis as aforesaid, hath caused these presents to be signed in its corporate name by 
Frank W. Stone, its third vice-president, and its corporate seal to be hereunto affixed, 
attested by its secretary, Charles E. Nyman, and the said The George Washington Uni- 
versity of the District of Columbia hath caused these presents to be signed in its cor- 
porate name by Charles H. Stockton, its acting president, and has caused its corporate 
seal to be hereunto affixed, attested by Williston S. Hough, its acting secretary. 
[seal.] (Signed) WoocBrRY Blair, 

Trustee for George Peabody Eustis. 
National Savings and Trust Company, 

Trustee for George Peabody Eustis. 
(Signed) By Frank W. Stone, 

Third Vice-President. 



Attest: 

Charles E. Nyman, 

Secretary. 



Attest: 

Williston S. Hough, 

Acting Secretary. 



The George Washington University 

OF THE District of Columbia. 
By C. H. Stockton, 

Acting President. 



EXHIBIT G. 



This agreement made this 1st day of September, in the year 1910, by and between 
the Masonic Temple Association of the District of Columbia, party of the first part, and 
the George Washington University, party of the second part, both bodies corporate: 

Witnesseth that the said party of the first part has leased, and does hereby let and 
lease unto the said party of the second part, all that certain part above the fourth 
story of that certain house, messuage, tenement, and premises, situate in the city of 
Washington, in the District of Columbia, located at Thirteenth Street and New York 
Avenue NW., and known as the New Masonic Temple, for the full period of 3 years, 
commencing on the 1st day of September, A. D. 1910, to be fully ended and completed 
on the 31st day of August, A. D. 1913, at and for the rental of $7,200, payable in 36 
monthly installments, in advance, one of said installments payable en the first day of 
each and every month during the said term, except the first installment, as herein- 
after provided, that is to say the first 12 of the said installments in the sum of $191.67 
each, the second 12 thereof in the sum of $200 each, and the remaining 12 thereof in 
the sum of $208.33 each, the first payment, however, of $191.67 being made simul- 
taneously with the execution and delivery of these presents, the second installment 
on the 1st day of October, A. D. 1910, and the further installments on the. first day of 
each and every succeeding month thereafter, throughout the said term. 

And the said party of the first part covenants and agrees with the party of the 
second part that it, the said party of the second part, shall not be required to make 
any payment to the party of the first part for elevator or heating service; that, from 
September 28 to June 30, during the continuance of the tenancy hereby created, 
from 4.30 p. m. to 6.45 p. m., on all days upon which the said party of the second 
part shall be conducting its law school upon said premises, the party of the first part 
will maintain and operate two elevators, with the free privilege and right to all per- 
sons attending the said law school exercises to use the said elevators; that the party 
of the second part shall provide, at its own expense, its janitor service and all other 
service not herein otherwise specifically provided, and that it, the said party of the 
second part, shall have the right to make any such changes and alterations as it may 
desire in the premises hereby demised as shall not, in the opinion of the party of the 
first part, impair the structural integrity of the building as the same now exists, or 
interfere with the convenient use of the other parts thereof, the party hereto of the 
second part, in consideration thereof, hereby covenanting that, at the termination of 
the tenancy hereby created, without demand, it will promptly restore the demised 
premises to the condition in which they were before any changes or alterations 
were made by it, and that upon the demand of the party of the first part at any 
time prior to such termination, when in the opinion of the party of the first part such 
structural impairment or interference with the convenient use of other parts of the 



FINANCIAL CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 165 

building shall have been caused by any such changes or alterations, said party of the 
second part shall promptly make such restoration as, in the opinion of the architect 
of the said party of the first part, shall be necessary to cure such impairment 
or interference. 

It is further mutually covenanted and agreed that the party of the second part shall 
be permitted to place a neat sign at the Thirteenth Street entrance to the building in 
which the demised premises are located, but no other sign or signs whatsoever in, 
upon, or about the said building, without the written consent of the party of the first 
part first had and obtained. 

And the said party of the second part hereby covenants and agrees to and with the said 
party of the first part, that it, the said party of the second part, shall and will during 
the said term pay unto the said party of the first part the rent hereby reserved in the 
manner above mentioned without any deduction whatsoever, and without any obli- 
gation on the part of the said party of the first part to make demand for the same; 
that it will not use the said premises for any unlawful purpose, but will occupy the 
same solely as a law school; that without the written consent of the party of the first 
part the same shall not be sublet or assigned, voluntarily, by operation of law, or other- 
wise; that it will not transfer possession thereof to any person or persons, corporation 
or corporations, nor carry on any business therein except that of a law school without 
the written consent of the said party of the first part first had and obtained; and 
further that it, the said party of the second part, will pay the gas and electric light 
bills promptly as the same may, respectively, become due and chargeable against the 
demised premises during the term aforesaid; and at the end of the said term will 
deliver up the said premises in the like good order in which they now are, ordinary 
wear and tear and casualties by fire and the elements only excepted, to the said party 
of the first part, who shall and may thereupon reenter; and in the event that the party 
of the second part shall elect and be suffered to remain in possession of the said premises 
after expiration of the term hereby created, said party of the second part shall by 
virtue of this agreement become a tenant by the month, at the rental per month of 
the monthly installments of rent payable at the tim.e of the expiration of the said 
term, which said monthly tenant shall be subject to all the conditions and covenants 
of this lease as though the same had originally been a monthly tenancy, and shall 
give to the said party of the first part at least 30 days' notice of any intention to remove 
from said premises, and the said tenant by the month shall not be entitled to any 
notice to quit in the event that the said rent is not paid in advance, without demand, 
the usual 30 days' notice being hereby expressly waived. 

And the said party of the second part further covenants and agrees that if during the 
continuance of the tenancy hereby created, or if after commencement of the said 
monthly tenancy, if any shall arise as aforesaid, it shall fail to pay any one of the said 
monthly instalments of rent reserved as aforesaid when and as the same shall become due 
and payable although no demand may have been made for the same, or if in any other 
manner or respect it shall fail to keep or shall violate any one of the covenants or 
agreements in this instrument contained, then it shall be lawful for the said party 
of the first part, at its election and option to reenter and recover possession of said 
premises by means of a 7 days' summons under the provisions of the code of the 
District of Columbia regulating jiroceedings between landlords and tenants, and the 
amendments made or to be made thereto, or by such other legal process as may at that 
time be in operation in like cases, the said party of the second part hereby expressly 
waiving all right to a 30 days' or other notice to quit should the said party of the first 
part at any time elect to exercise its right to proceed to recover possession as aforesaid. 

And it is further provided that, if under the provisions of this lease and agreement 
a seven days' summons shall be served and a compromise or settlement shall be made, 
either before or after judgment, whereby the said party of the second part shall be 
allowed to retain said premises, such proceedings shall not constitute a waiver of any 
covenant herein contained or the lease itself, or of the monthly tenancy, if that be in 
force at such time or times; and it is further understood and agreed that the covenants 
and agreements contained in this instrument, to be performed by the respective par- 
ties, are binding upon the said parties and their successors and assigns, respectively, 
and that no waiver of any breach of any covenant in this instrument contained shall 
be construed to be a waiver of the covenant itself, or of any subsequent breach thereof 
or of this agreement. 

And the said party of the second part further covenants and agrees with the party 
of the first part that it will indemnify and save harmless the said party of the first part 
of, from, and against any and all loss, costs, damage, and expense which the said party 
of the first part may be put to, suffer, or incur, whether in respect to the demised 
premises, that, or any other portion of the said building, or otherwise however, growing 
out of or in any manner connected with or concerned in the making of this agreement, 
or of the tenancy aforesaid, or the use of the said premises for entry to or egress from the 



166 FINANCIAL CONDITION OF GEORGE tVASHINGTON UNIVERSITY. 

said building, or the said floors, or otherwise however, in, upon, or about the said 
building, by any person or persons, whether students, employees, or others connected 
with the said party of the second part. 

In testimony whereof the parties of the first and second parts have caused their 
names to be hereunto subscribed and their seals affixed and attested the day and year 
first hereinbefore written, by their officers thereunto duly authorized. 

The Masonic Temple Association 

OF THE District of Columbia, 
By J. H. Small, Jr., President. 
Attest: F. R. Underwood, Secretarij. 

The George Washington University, 
By C. H. Stockton, Acting President. 
Attest: Williston S. Hough, Acting Secretary. 



EXHIBIT H. 

Certificate op Incorporation of National College of Pharmacy. 

We, the undersigned, persons of full age and citizens of the United States, being 
desirous of associating ourselves for the purpose of establishing a college under the 
provisions of the act of Congress amending the charter of the George Washington 
itJniversity, entitled "An act supplemental to the act of February 9, 1821, incor- 
porating the Columbian College, in the District of Columbia, and the acts amendatory 
thereof, " approved March 3, 1905, do hereby certify as follows: 

First. Our intention is to organize a corporation under said act, and said university 
has assented thereto, as is evidenced by its certificate under seal hereto appended. 

Second. The name or title by which the college shall be known in law is "National 
College of Pharmacy. " 

Thu-d. The college shall be under the management and control of a board of trustees 
consisting of 13 members; the president of said univereity shall be ex ofiicio a member 
of said board and there shall be 12 other trustees, divided into three classes, provided 
the number of trustees may be increased from time to time, with the consent of said 
university, to a number not exceeding 18, exclusive of the president of the university. 
The names of the 12 trustees, constituting, with the president of the university, the 
first board and their terms of ofiice, are as follows: 

(1) G. G. C. Simms, Samuel L. Hilton, Frank C. Henry, Henry E. Kalusowski, 
trustees whose term of office expires at the annual meeting in June, 1906; (2) Frank 
P. Weller, Samuel Waggaman, Walter G. Duckett, W. H. Bradbury, trustees whose 
term of office expires at the annual meeting in June, 1907; (3) Charles B. Campbell, 
Herbert C. Easterday, Lewis Flemer, Willard S. Richardson, trustees whose term of 
office expires in June, 1908. 

Fourth. The manner of nominating and electing successors to said trustees shall be 
such as may be prescribed from time to time by the by-laws, which by-laws may be 
enacted by the board of trustees at any regular meeting, or at a special meeting called 
for such purpose. A failure to elect trustees at the annual meeting shall not create 
vacancies in the board, but such election may be held and vacancies occurring during 
the year may be filled for the unexpired term by the board at any general or special 
meeting. 

Fifth. The particular subjects to be taught in this college are: Pharmacy, chemistry, 
materia medica, botany, chemical analysis, and such other branches as are or may be 
taught in pharmaceutic colleges in courses leading to degrees. 

Sixth. The highest officer of said college shall be a dean; the dean and the mem-bers 
of the faculty to be members of the educational councils of the university in accordance 
with the rules governing the university. 

Seventh. All degrees shall be bestowed by the university. 

Eighth. That in all financial and legal responsibility the college shall be an inde- 
_pendent organization. 

In testimony whereof we do hereunto sign our names on this 12th day of January 
A. D. 1906, in the District of Columbia. 

Charles W. Needham. Walter G. Duckett. 

G. G. C. Simms. W. H. Bradbury. 

Samuel L. Hilton. Charles B. Campbell. 

Frank C. Henry. Herbert C. Easterday. 

Henry E. Kalusowski. Lewis Flemer. 

Frank P. Weller. Willard S. Richardson. 

Samuel Waggaman. 



FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 167 

District of Columbia, to wit: 

I, Wm. J. Donnelly, a notary public in and for the District of Columbia, do hereby 
certify that Charles W. Needham, G. G. C. Simms, Samuel L. Hilton, Frank C. Henry, 
Henry E. Kalusowski, Frank P. Weller, Samuel Waggaman, Walter G. Duckett, W. H. 
Bradbury, Charles B. Campbell, Herbert C. Easterday, Lewis Flemer, and Willard S. 
Richardson, parties to a certain certificate of incorporation, bearing date on the 12th 
day of January, A. D. 1906, and hereto annexed, personally appeared before me, in 
the District aforesaid, the said Charles W. Needham, G. G. C. Simms, Samuel L. Hilton, 
Frank C. Henry, Henry E. Kalusowski, Frank P. Weller, Samuel Waggaman, Walter 
G. Duckett, W. H. Bradbury, Charles B. Campbell, Herbert C. Easterday, Lewis 
Flemer, and Willard S. Richardson, being personally well known to me as the persons 
who executed the said certificate of incorporation and acknowledged the same to be 
their act and deed. Given under my hand and seal this 20th day of January, A. D. 
1906. 

[seal.] Wm. J. Donnelly, 

Notary Public, District of Columbia. 
District op Columbia: 

This is to certify that the George Washington University hereby assents to the 
organization of the National College of Pharmacy under and in accordance with the 
foregoing certificate. 

In testimony whereof the president and secretary hereunto duly authorized have 
subscribed this certificate and attached the seal of the university thereto this 12th 
day of January; A. D. 1906. 

[corporate seal.] Charles W. Needham, President. 

John B. Larner, Secretary. 

Oppice of the Recorder op Deeds, 

District of Columbia. 
This is to certify that the foregoing is a true and verified copy of the certificate of 
incorporation of the National College of Pharmacy and of the whole of said certificate 
of incorporation as filed in this ofiice the 13th day of February, 1906, and recorded in 
Liber 23, folio 469, et seq., one of the incorporation records of the District of Columbia. 
In testimony whereof I have hereunto set my hand and afiixed the seal of this 
office this 14th day of July, A. D. 1910. 
[seal.] R. W. Dutton, 

Deputy Recorder of Deeds, District of Columbia. 



EXHIBIT I. 

Articles of Incorporation of the College of Veterinary Medicine. 

We, the undersigned, persons of full age and citizens of the United States, being 
desirous of associating ourselves for the purpose of establishing a college under the 
provisions of the act of Congress amending the charter of the George Washington 
University, entitled, "An act supplemental to the act of February 9, 1821, incorporat- 
ing the Columbian College in the District of Columbia, and the acts amendatory 
thereof," approved March 3, 1905, do hereby certify as follows: 

First. Our intention is to organize a corporation under said act, and said university 
has assented thereto as is evidenced by its certificate under seal hereto appended. 

Second. The name or title by which the college shall be known in law is College of 
Veterinary Medicine. 

Third. The college shall be under the management and control of aboard of trustees 
consisting of 7 members; the president of said university shall be ex officio a member 
of said board and there shall be 6 other trustees divided into three classes, the term of 
office of one class expiring annually, provided the number of trustees may be increased 
from time to time, with the consent of said university, to a number not exceeding 15, 
exclusive of the president of the university. The names of the 6 trustees constituting, 
with the president of the university, the first board, are as follows: (1) John A. T. Hull, 
William Corcoran Eustis, trustees whose term of office expires at the annual meeting 
in June, 1909; (2) H. Rozier Dulany, John P. Turner, trustees whose term of office 
expires at the annual meeting in June, 1910; (3) John Lockwood, Dayid E. Bucking- 
ham, jr., trustees, whose term of office expires at the annual meeting in June, 1911. 

Fourth. The manner of nominating and electing successors to said trustees shall be 
such as may be prescribed from time to time by the by-laws, which by-laws may be 



168 FINANCIAL CONDITION OF GEORGE WASHINGTON UNIVERSITY. 

euacted by the board of trustees at any regular meeting, or at a special meeting called 
for such purpose. A failure to elect trustees at the annual meeting shall not create 
vacancies in the board, but such election may be held and vacancies occurring during 
the year may be filled for the unexpired term by the board at any general or speciS 
meeting. 

Fifth. The object of this college is to furnish a thorough education in all that pertains 
to veterinary medicine. The particular subjects to be taught are chemistry; materia 
medica and pharmacy; physiology, horseshoeing; therapeutics; pathology; theory and 
practice of veterinary medicine; surgery, obstetrics, zootechnics, and veterinary sani- 
tary science. 

Sixth. The highest officer of said college shall be a dean, the dean and members of 
the faculty to be members of the educational councils of the university in accordance 
with the rules governing the university. 

Seventh. All degrees shall be bestowed by the university. 

Eighth. That in all financial and legal responsibility and in the appointment of its 
officers and members of its faculty the college shall be an independent organization, 
fi*ee fi'om university control. 

John A. T. Hull. 
. William Corcoran Eustis. 
h. rozier dulany. 
John P. Turner. 
John Lockwood. 
David E. Buckingham, Jr. 
District of Columbia, to ivit: 

I, John A. Petty, a notary public in and for said District, hereby certify that John 
A. T. Hull, William Corcoran Eustis, H. Rozier Dulany, John P. Turner, John Lock- 
wood, and David E. Buckingham, jr., personally appeared before me in said District, 
they being personally well known to me to be the persons who signed the foregoing 
certificate of organization, acknowledging the same to be their act for the purposes 
therein named. 

Given under my hand and notarial seal this 1st day of April, A. D. 1908. 
[seal.] John A. Petty, Notary Public. 

This is to certify that the George Washington University hereby assents to the 
organization of the College of Veterinary Medicine under and in accordance with the 
foregoing certificate. 

In testimony whereof the president and secretary hereunto duly authorized have 
subscribed this certificate and attached the seal of the university thereto this 1st day 
of April, A. D. 1908. 

[seal.] Charles W. Needham, President. 

John B. Larner, Secretary. 



EXHIBIT K. 

Points au Pic, Province of Quebec, Canada, 

September 20, 1910. 
My Dear Sir: Your inquiry of August 13 with reference to the Mount Vernon 
alcove fund was forwarded to me from Washington, but it has been overlooked until 
to-day. 

"V\Tien Dr. Harlan worked out the plans for the establishment of that alcove and pre- 
pared the appeals that were used in the campaign carried on in my name, his idea 
was to recommend to the trustees that at least a portion of any of the large contributions 
should be set aside as an endowment, the balance being expended at once for the pur- 
chase of books. But nothing in the documents and letters which were used pledged 
the university to any definite. course. 

When we apj^ealed to Mr. Carnegie for a contribution nothing was said to him or by 
him as to whether his contribution should be used outright or set apart as an endow- 
ment; but in his report to the president, at the close of our effort, Dr. Harlan did recom- 
mend that Mr. Carnegie's $1,000 should be set apart as an endowment. 
Yours, sincerely, 

Margaret M. Harlan. 
Mr. N. B. Keyser, 

Special Bank Accountant, Department of Justice, Washington, D. C. 



FINANCIAL CONDITIOlSr OP GEOEGE WASHINGTON ITNIVEESITY. 169 

Office of the President, 
The George Washington University, 

Washington, D. C, December 5, 1910. 
Sir: I "have the honor to transmit herewith a copy of the deed of trust, executed and 
recorded, upon the property of the University on H Street between Thirteenth and 
Fourteenth Streets. 

This deed of trust was authorized and directed by the board of trustees at their meet- 
ing on Wednesday, November 30, two-thirds of the members of the board being present. 
I am, respectfully, 

C. H. Stockton, President. 
The Attorney General of the United States. 



This indenture made this 1st day of December, 1910, by and between the George 
Washington University, a corporation existing under and by virtue of the laws of the 
United States relating to the District of Columbia, and located in the said District, party 
of the first part, and the National Savings and Trust Company, a corporation existing 
under the laws of the United States relating to the District of Columbia, and located 
in the city of Washington in said District, trustee, party of the second part: 

Whereas, there have heretofore been donated in trust for endowment purposes to 
the George Washington University, grantor herein, and to its predecessors, the Colum- 
bian University and the Columbian College in the District of Columbia, certain sums 
of money, a portion of the principal of which was borrowed by the university and 
its said predecessors, at various dates between the year 1821, when the said university 
was founded, and the 1st day of January, 1910, and used for the general purposes of 
the said university and its predecessors; 

And whereas the said party of the first part, to secure the repayment of all the 
amounts so borrowed and used for general university purposes, has executed its 
promissory note of even date herewith, payable on or before 10 years after date, for 
the Slim of |350,000, to the Washington Loan & Trust Co., a corporation existing 
under the laws of the United States relating to the District of Columbia, and located 
in the city of Washington in said District, fiscal agent of the said the George Wash- 
ington University, trustee of endowment funds; 

And whereas the said party of the first part being desirous of securing the payment 
of the said note, executes these presents: 

Now, therefore, this indenture witnesseth. That the said party of the first part for 
and in consideration of the premises and further of $1 lawful money of the United 
States to it in hand paid by the said party of the second part at and before the sealing 
and delivery of these presents, and the receipt whereof is hereby acknowledged, has 
given, granted, bargained and sold, aliened, enfeoffed, released and conveyed, and 
does by these presents give, grant, bargain and sell, alien, enfeoff, release and 
convey unto the said party of the second part, its successors and assigns, the following 
described land and premises, situate in the city of Washington, District of Columbia, 
and known and described as lots Nos. 5 and 6 in the subdivision made by the heirs 
of John Davidson of original lots Nos. 7, 8, and 9, in square No. 250, as per plat recorded 
in the office of the surveyor for the District of Columbia in Liber NK, at folios 69 
and 70, and also lots Nos. 33 and 34 in the subdivision made by Columbian University 
of lots in square No. 250, as per plat recorded in said surveyors office in Liber 26, at 
folio 160, together with all and singular the improvements, ways, easements, rights, 
privileges, and appurtenances to the same belonging or in anywise appertaining, and 
all the estate, right, title, interest, and claim, both at law and in equity, or otherwise 
however, of the said party of the first part, of, in, to, or out of the said larfd or premises. 

To have and to hold the said land, premises, and appurtenances unto and to the only 
use of the said party of the second part, its successors and assigns: 

In and upon the trusts, nevertheless, hereinafter declared; that is, in trust to permit 
the said party of the first part, its successors and assigns, to use and occupy the said 
described land and premises, and the rent, issues, and profits thereof to take, have, 
and apply to and for its and their sole use and benefit until default be made in the 
payment of said note and upon such default or failure for the period of 60 days, the said 
party of the second part, its successors and assigns, or the trustee acting in the execu- 
tion of this trust, at the request, in writing, of the Attorney General of the United 
States, shall proceed to sell the said described land and premises, or so much thereof 
as may be necessary, at public or private sale upon such terms and conditions, at such 
time and place and after such previous public advertisement and in such parcels as the 
party of the second part, its successors or assigns, or the trustee acting in the execution 



i 



170 FINANCIAL. CONDITION OF GEOEGE WASHINGTON UNIVERSITY. 

of this trust, shall deem advantageous to the parties m interest, with full power to^*^ 
postpone the sale fi'om time to time in its discretion, and to resell on default of pur- 
chaser and to convey the same in fee simple to, and at the cost of the purchaser or 
purchasers thereof, who shall not be required to see to the application of the purchase 
money; and of the proceeds of said sale: First, to pay all proper costs, charges, and 
expenses and to retain as compensation a commission of one-half of 1 per cent on the 
amount of said sale or sales; secondly, to pay out of whatever may then remain to the 
said Washington Loan and Trust Company as fiscal agent of the George Washington 
University, trustee of endowment funds, the sum of $350,000 or so much thereof as 
may then remain due upon said note, the receipt of said Washington Loan and Trust 
Company, fiscal agent, being a sufiicient receipt therefor; and to pay over the balance 
to the said the George Washington University. 

And upon the further trust, that if the said George Washington University shall, 
at any time within ten years from the date hereof, satisfy the payee of said note that 
an amount less than the sum of $350,000 has been ascertained to be the correct amount 
of the endowment funds borrowed and applied as aforesaid, the amount of said note 
shall be reduced accordingly by indorsement of the payee thereon. 

And upon the further trust, that in case at any time before said property shall have 
been sold hereunder, the said university shall satisfy the payee of the note secured 
hereby that the amount so borrowed from said endowment funds and used as aforesaid 
has been repaid in whole or in part, the said note shall be reduced to that extent or 
wholly extinguished, as the case may be, the payee of said note making proper indorse- 
ment in case of such reduction. 

When said note shall have been fully paid and satisfied, the trust hereby created 
shall wholly cease and determine, and the party of the second part shall release this 
deed of trust. 

And the said party of the first part does hereby agree at its own cost, during all the 
time whenever any part of the note hereby secured shall remain unpaid or unsettled, 
to keep said improvements insured against loss by fire in the name and to the satis- 
faction of the party of the second part, who shall apply whatever may be received 
therefrom or so much thereof as may be necessary to the payment of said note. 

And the said party of the first part hereby appoints Augustus S. Worthington as 
its attorney in fact to appear before any proper ofiicer authorized to take acknowledg- 
ment of deeds and to make acknowledgment of this deed as its act and deed. 

In testimony whereof, the said George Washington University has on the said Ist day 
of December, 1910, caused these presents to be signed by Charles H. Stockton, its presi- 
dent, and to be attested by Richard Cobb, its secretary, and has caused its corporate 
seal to be hereunto affixed. 

The George Washington University, 
By , President. 

Attest: 

, Secretary. 

District of Columbia, ss: 

I, , a notary public in and for the District of Columbia, do hereby certify that 

— ■■ , who is personally well known to me as the person named as attorney in fact in 

the foregoing deed, bearing date of the 1st day of December, 1910, and hereto annexed, 
personally appeared before me in said District and as attorney in fact as aforesaid, 
and by virtue of the authority vested in him by said deed, acknowledged the same to 
be the act and deed of the George Washington University, the grantor therein. 

Given under my hand and seal this day of December, 1910. 

, Notary Public. 

o 



LEAg'll 



